TIMELINE-UBS trial delayed
July 13 (Reuters) - A U.S. federal court judge in Miami approved a delay in a high profile trial in which U.S. tax authorities hope to force UBS AG (UBSN.VX) (UBS.N) to reveal the identities of thousands of Americans suspected of using the Swiss bank to evade taxes. [ID:nLD512868]
Following is a timeline of recent events at UBS:
April 1, 2008 -- Doubles its writedowns, dumps its chairman, Marcel Ospel, and seeks more emergency capital. It proposes its lawyer, Peter Kurer, as Ospel's successor.
May 6 -- Says it will axe 5,500 jobs and sell billions of dollars of ailing assets to weather the subprime crisis.
June 19 -- A former UBS banker who once smuggled a client's diamonds into the U.S. in a toothpaste tube pleads guilty to helping a billionaire hide $200 million in assets from U.S. tax authorities, part of a broader tax evasion probe of UBS.
Oct. 16 -- Announces it is to get 6 billion francs from the Swiss government for a 9.3 percent stake and is to unload $60 billion of toxic assets into a new central bank fund.
Nov. 12 -- Raoul Weil, head of UBS AG's wealth management business, is charged with conspiring to help thousands of wealthy Americans hide $20 billion of assets from U.S. tax authorities in Swiss bank accounts.
Feb. 10, 2009 - Posts a 2008 loss of 19.7 billion francs, the biggest ever loss for a Swiss company. Cuts 2,000 more jobs.
Feb. 18 - Agrees to pay $780 million and identify certain U.S. clients to settle criminal fraud charges that it assisted rich Americans to evade taxes.
Feb. 19 - U.S. tax authorities say they are still pursuing a civil lawsuit seeking to access details on 52,000 UBS clients.
Feb. 26 - Appoints Oswald Gruebel, former head of rival Credit Suisse, as chief executive, replacing Michael Rohner.
March 4 - Chairman Peter Kurer steps down. Kaspar Villiger, a former Swiss finance minister, is nominated as a replacement.
March 13 - Switzerland agrees to make concessions on bank secrecy amid global crackdown on tax evasion.
April 5 - Announces worldwide travel ban for wealth management client advisers after coming under scrutiny in the U.S. tax fraud investigation.
April 20 - Agrees to sell Brazilian business Banco Pactual for about $2.5 billion. Continued...



