UBS Scores Win In $475M Subprime Contract Suit

Law360 (May 23, 2008, 12:00 AM EDT) -- In a case that provides a window into the elaborate financing that fueled the onetime subprime securities boom, a New York state judge has tossed a complaint against a UBS AG affiliate in a $475 million dispute over real estate-related debt obligations.

On May 15, Judge Helen E. Freedman of a New York state court in Manhattan dismissed all the charges brought by two units of FSI Realty Investment Management LLC, which had contracted to have UBS Securities LLC hold onto a debt portfolio for eventual...
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