A Spanish investor asked a court to order UBS AG’s Luxembourg unit to release documents to help show alleged wrongdoing by the bank over losses tied to Bernard Madoff.
UBS’s Luxembourg unit, custodian bank of now defunct Luxembourg Investment Fund, should hand over documents including “an operational memorandum” mentioning UBS, the fund and Bernard L. Madoff Investment Securities LLC, Guy Perrot, lawyer for Spanish investment firm Castalia Ahorro Sicav, told a Luxembourg court yesterday.
The lawsuit is one among dozens of similar cases that investors have filed against the local unit of the Swiss bank since Madoff’s arrest on Dec. 11. Rulings involving UBS in similar cases over documents connected to LuxAlpha Sicav- American Selection have been mixed.