UBS urges judge not to hold it obligated for home loan bond misfortunes.

UBS AG asked a U.S. judge on Friday to reject guarantees that it ought to be held at risk for $2 billion in misfortunes that speculators brought about on home loan upheld securities issued before the breakdown of the U.S. lodging market. Legal counselors for UBS made their end contentions in the non-jury trial in Manhattan government court in a claim being sought after by U.S. Bancorp for the benefit of three trusts built up for home loan upheld securities. Sean Baldwin, the trusts’ legal advisor, said UBS chose not to see to imperfections in the home loans it gained and bundled into bonds to be sold to financial specialists, depending on merchants contracted to do due perseverance on the advances whom it considered “careless or apathetic.” “It was a business choice, yet it ought to be considered responsible for that business choice,” he said. Be that as it may, Robert Fumerton, a legal advisor for UBS, said while the trusts fought a huge number of credits were imperfect under the representing contracts, they had neglected to build up those deformities were material. “Not all ruptures of the rules and not all breaks of the representations and guarantees are material,” Fumerton said. The case, being heard by U.S. Locale Judge Kevin Castel, is one of a modest bunch to go to trial as of late over misfortunes caused on home loan supported securities, the monetary item at the focal point of the 2008 money related emergency. The claim takes after a related activity against UBS by bond safety net provider Assured Guaranty Ltd over the same home loan upheld...

Bergdahl trial faces delay over legal wrangling

WASHINGTON — Army Sgt Bowe Bergdahl, who faces desertion and misbehavior charges for abandoning his post in Afghanistan, is expected to appear at a court hearing Tuesday amid legal wrangling over secret documents that could delay his trial. The pretrial hearing is scheduled at Fort Bragg, N.C., according to an Army statement. The statement did not detail what issues the hearing would address. But Maj. Justin Oshana, a prosecutor, said his team has collected 1.5 million pages of documents in connection with requests from Bergdahl’s defense lawyers for information about their client’s capture by Taliban militants and five years in captivity. In a motion filed last week, the prosecutors recommended moving the trial date to Dec. 8.  It is currently scheduled for Aug. 8. Legal experts said that trials involving large amounts of classified documents can delay proceedings. “The administrative issues here, where there are hundreds of documents that are classified, can be difficult and slow things down,” said Philip Cave, a retired Navy judge advocate now in private practice. Bergdahl was captured by militants in 2009 after walking off his post in Afghanistan. He was released in 2014 in exchange for five Taliban detainees who were in U.S....