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UBS loses bid to limit liability for Nazi-linked crimes: ruling - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers UBS loses bid to limit liability for Nazi-linked crimes: ruling REUTERS Claims Disputes Apr 8, 2026 (Reuters) – A U.S. judge on Tuesday rejected UBS’ bid to clarify a $1.25 billion settlement from 1999 of Holocaust-related litigation against Swiss banks by shielding it from claims based on new revelations about Nazi-linked accounts. U.S. District Judge Edward Korman in Brooklyn, New York, said UBS was seeking an advisory opinion protecting it from “hypothetical” lawsuits that have not been filed. “Until a genuine case or controversy arises that requires judicial interpretation of its terms, the agreement will continue to speak for itself,” wrote Judge Korman, who oversaw the 1999 settlement. The Simon Wiesenthal Center, a Jewish human rights group, had argued that UBS’ proposal would improperly expand the settlement to encompass newly uncovered facts about banks’ dealings with the Third Reich. UBS sought Judge Korman’s intervention after an investigation commissioned in 2020 by the former Credit Suisse uncovered additional ties between that bank, its predecessors and Nazis, including 890 accounts with potential Nazi links. The $1.25 billion was paid by UBS and Credit Suisse and distributed to more than 458,000 Nazi victims and their families. In a statement, UBS said: “Nothing in the judge’s opinion contradicts our reading of the 1999 settlement agreement.” Lawyers for the Simon Wiesenthal Center did not immediately respond to requests for comment. UBS bought Credit Suisse in a Swiss government-arranged emergency takeover in 2023. Related News Marsh Risk raises capacity in excess cyber facility April 8, 2026 Insurer must defend doctor accused of ‘fertility fraud’ April 8, 2026 Ski pass or pass on skiing? Lawsuit claims slopes are rigged April 8, 2026 NFP acquires Minnesota-based transportation agency April 8, 2026 National emphasis program for heat safety expires April 8, 2026 India plans $1.5B reinsurance cover for ships in conflict zones April 8, 2026 China to launch supply chain security rules April 8, 2026 Zurich, Cowbell launch cyber in Australia April 8, 2026 South Korea secures oil routes to bypass Hormuz April 8, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
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