US – UBS Tax Case: Joint Motion to Stay the Court Proceedings

12.07.2009

Today, the US Government and UBS, with the support of the Swiss Government, filed a joint motion to stay the civil litigation pending in the United States District Court for the Southern District of Florida in Miami. The parties asked the judge to stay the proceedings for 15 days in order to achieve a settlement. The Swiss Federal Department of Justice and Federal Department for Foreign Affairs who have conducted the talks leading to the motion for a stay support this step. Further information is not available as the already ongoing settlement negotiations between the US and Swiss governments are confidential.