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.

The issues...
To view the full article, register now.