Court Blocks Separate Claims Against UBS on Madoff
Lawyer Blogs
A Luxembourg court ruled on Thursday that investors who lost money to Bernard L. Madoff through a fund set up by UBS cannot seek compensation directly from the Swiss bank, Reuters reported.
In November, private and institutional investors who lost money through the LuxAlpha fund, set up as a vehicle for wealthy investors to invest in Madoff funds, sued UBS and Ernst & Young for “seriously neglecting” their supervisory duties of the fund.
But the court rejected the demands of the investors, who wanted to file individual claims against the bank, rather than having to go through the fund’s liquidators, Reuters said.
Franc Greff, who represents clients in four of the 10 cases being reviewed, told the news service he would appeal the decision.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.