UBS Can't Stop Highland Transfers In $686M Fraud Suit

Law360, New York (November 26, 2013, 2:12 PM EST) -- UBS AG can't stop Highland Capital Management LP affiliates from transferring funds despite UBS' argument that it'll be left holding the bag in a $686 million securities lawsuit, a New York state judge ruled Monday, but she gave UBS time to appeal because she said the appellate law is unclear.

Judge Marcy S. Friedman said that UBS can't stop some new fund transfers by the Highland affiliates that UBS has alleged will leave the affiliates without any ability to pay if UBS prevails in its $686...
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