UBS Judge Strives For Best Way Forward As $2B Trial Wraps

Law360, New York (May 13, 2016, 8:00 PM ET) — A New York federal judge said Friday he is wrestling to come up with the best method for ruling on trustee U.S. Bank’s contract claims against UBS AG over $2 billion in bundled home loans as a three-week bench trial featuring 39,000 separate allegations of breach flowing from 8,000 allegedly defective mortgages wrapped.

U.S. Bank’s attorney pressed the judge to order UBS to pay for a swath of allegedly defective loans. (Credit: AP) U.S. District Judge P. Kevin Castel stressed again during a daylong closing session…

Source: Law360

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