U.S. trial delay seen bringing UBS tax deal nearer
July 13th, 2009
Reuters
ZURICH/MIAMI – A federal court judge in Miami approved a delay in a high-profile trial on Monday in which U.S. tax authorities hoped to force UBS AG to reveal the identities of thousands of Americans suspected of using the Swiss bank to evade taxes.
Both UBS and the U.S. Justice Department requested the postponement on Sunday as the parties said for the first time that they were engaged in talks for a possible out-of court settlement of the case centering on Switzerland’s jealously guarded tradition of bank secrecy.
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