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Credit Suisse, UBS Sued Over Asset Seizure

Law360 (October 24, 2007, 12:00 AM EDT) -- A San Francisco couple has asked a federal court to force Credit Suisse Group and UBS AG to return over $7.5 million that was seized in error by Swiss authorities in 2005.

Hana and Oliver Hilsenrath filed their complaint in the U.S. District Court for the Northern District of California on Monday. The suit also asks the court to compel the Swiss banks to notify current and prospective customers with a “product warning label” that they are not obligated by property rights granted by the U.S....
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