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Westlaw News

Court asked to revive claims over late diplomat's account at UBS

(Reuters) - A lawyer for the estate of former Indonesian diplomat and United Nations president Adam Malik has asked a federal appeals court to revive a lawsuit accusing UBS AG of seizing billions of dollars from inactive accounts over the past 30 years.

In a filing on Wednesday, the lawyer said a lower court erred in ruling it did not have jurisdiction over UBS, Switzerland’s largest bank. UBS is so enmeshed with the U.S. banking system that it has a dual nationality in both Switzerland and the United States, lawyer Thomas Easton said in the filing.

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