UBS Looks to Deep-Six Bank's $150M RMBS Suit
April 30, 2014
Martis Alex argues that the German three-year statute of limitations does not apply
During oral arguments in which UBS sought the dismissal of a case brought by German bank HSH Nordbank, Labaton Sucharow partner Martis Alex countered that the German statute of limitations "is an exceptional standard that only begins to run if a plaintiff is grossly negligent in ignoring potential claims."
Representing HSH, Martis added to her argument that a plaintiff would have to know enough information in order to bring a suit with a good chance of success, and that was not what happened with the German bank.
"None of the available information would've told our clients that UBS knowingly made misrepresentations about the quality of the loans."