UBS Rips Sentinel Trustee's Bid For Review Of $14M Transfer

By Dean Seal (May 1, 2018, 3:39 PM EDT) -- UBS Securities LLC urged an Illinois federal judge on Monday to reject a bankruptcy trustee's request for her to reconsider a prior ruling that UBS could keep the $14.4 million it received upon liquidation of its account with Sentinel Management Group Inc. months before the investment firm went under.

U.S. District Judge Rebecca R. Pallmeyer said in March that trustee Frederick J. Grede had not put forth enough evidence to support a genuine dispute over whether the money transferred to UBS months before Sentinel's collapse was legitimate interest income earned on investments from the account or a fraudulent transfer of "false...

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