A French appeals court has ruled that UBS must pay a EUR1.1bn ($1.41bn) bond for a French investigation into claims that it aided helped wealthy French clients evade taxes.
The judges requested the payment amount on grounds that it reflects the size of the fine UBS could pay if found guilty.
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The Swiss bank said it would take the ruling to the French Supreme Court and challenge the judicial process, including the right to a fair trial, at the European Court of Human Rights.
UBS is under investigation for allegedly encouraging tax evasion between 2004 and 2012 and has already been fined EUR10 million by French financial regulators for control failures that could have allowed clients to avoid taxes.
The Swiss bank had already paid EUR2.875mn guarantee in the case.
The bank is also the subject of investigations in Germany and Belgium.
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By GlobalData
