UBS: European Court of Human Rights accepts petition to challenge French court ruling on helping clients avoid tax

 
Catherine Neilan
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Swiss Bank UBS Agrees To Turn Over 4,000 Plus Account Names
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UBS has won the support of the European Court of Human Rights (ECHR) to push through a challenge to a French ruling over whether it helped clients avoid tax.

The Swiss bank said in its accounts filed today that the Strasbourgh-based ECHR had accepted a petition to challenge parts of the decision.

UBS was placed under formal examination in 2014, and investigating judges ordered the bank to provide bail of€1.1bn (£831m).

France's appeal court and the French Supreme Court have both rejected UBS' appeals over the bail. The bank said last month it was looking forward to the opportunity to respond to "unfounded allegations" in the French investigation.

Separately, the accounts also showed the bank had increased its bonus pool by 14 per cent year-on-year, to CHF3.5bn (£2.5bn).

Chief executive Sergio Ermotti's total compensation rise by 28 per cent to CHF14.3m, including a variable component worth CHF11.5m.

Total compensation for group executive board members rose by 17 per cent to CHF93.4m

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