UBS Wins Dismissal Of Property Owner's Suit Over $69M Loan

Law360, New York (April 12, 2012, 4:24 PM EDT) -- A New York state appeals court on Thursday upheld the dismissal of Los Angeles property owner Wilshire Westwood Plaza LLC's case against UBS Real Estate Securities Inc. over a $68.75 million loan UBS sold without Wilshire's consent.

The owner of Los Angeles' 17-story Murdock Plaza office tower sued the UBS AG affiliate, claiming it sold the loan to the Swiss government's bailout fund for a 10 percent discount despite a contract provision that allegedly required UBS to give Wilshire the first opportunity to buy the loan for...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.