District Judge Likely To Take Up Picard's UBS Case

Law360, New York (July 7, 2011, 6:54 PM EDT) -- A federal judge in New York on Thursday said she was likely to transfer a pair of lawsuits seeking approximately $2.6 billion from UBS AG unless the trustee overseeing Bernard L. Madoff's investment company could provide sufficient reason to keep the case in bankruptcy court.

U.S. District Judge Colleen McMahon said in a letter to attorneys that she was likely to approve the Swiss bank's request to have the case heard in district court alongside Irving H. Picard's suit against JPMorgan Chase & Co.

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Case Title

Irving H. Picard v. UBS AG et al


Case Number

1:11-cv-04213

Court

New York Southern

Nature of Suit

Bankruptcy Withdrawal

Judge

Colleen McMahon

Date Filed

June 21, 2011

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