Highland To Face $686M UBS Suit Over Rigged Deal

Law360, New York (March 3, 2011, 11:03 PM EST) -- A New York state judge refused Thursday to dismiss claims against Highland Financial Partners LP and others in UBS Securities LLC's $686 million lawsuit accusing the defendants of tricking it into restructuring a debt securities agreement then making repayment impossible.

Judge Bernard Fried of the Supreme Court of the State of New York, County of New York, refused to throw out UBS' suit against Highland Financial, Highland Credit Opportunities CDO LP and Strand Advisors Inc., which are accused of taking part in the fraudulent scheme....
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