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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Investment, Market

UBS in jeopardy after it faces collapse over tax dispute with U.S.

Posted on 08 February 2010

From Temasekreview.com: Government of Singapore Investment Corporation (GIC)’s S$14 billion dollar investment in giant Swiss bank UBS appeared to be in serious jeopardy following fresh concerns that UBS may face collapse if it loses its license in the United States after a protracted tax dispute.

GIC made its initial investment of S$14 billion to buy a 9 per cent stake in UBS on the same day that it was hit by a S$14 billion in losses from the sub-prime mortgage crisis in the United States in December 2007…………………………………Full Article: Source

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