UBS to Liquidate O'Connor Funds Hit by First Brands Bankruptcy

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The UBS subsidiary O的Connor wants to liquidate the accounting finance funds affected by the insolvency of First Brands. However, a fund that is not affected by this company bankruptcy is also to be liquidated.

Inside Paradeplatz

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Not-liquidation of the funds with 500 million dollars of customer money in crashed US car suppliers. Marathon-trial is underway in Houston. The First Brands crashed together like a map house. Benko in Wild West. Prominently the UBS – instead of bear Zurich's number one. The Financial Times just reported the emergency-liquidation of those UBS vehicles, which invests 500 million US dollars around First Brands [...]

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UBS intends to handle investment vehicles with liabilities to the Insolvent First Brands Group, which the Bank has communicated to its customers.