UBS' $686M Suit V. Hedge Fund Still Has Legs: Atty

Law360, New York (March 15, 2011, 6:30 PM EDT) -- An attorney for UBS AG told a New York state appeals court Tuesday that the bank's $686 million suit against hedge fund Highland Capital Management LP over a failed debt deal isn't precluded by an earlier ruling by the court.

The prior decision only related to the bank's indemnification claim against the hedge fund, but now there are claims for fraudulent transfers and fraudulent inducement against the hedge fund and others, Gregory A. Markel of Cadwalader Wickersham & Taft LLP, which represents UBS, told a five-judge...
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