The Court of First Instance No. 6 of Marbella has acquitted UBS Bank to pay 12 million euros to a client for an investment in Lehman Brothers bonds. The lawsuit is the biggest Lehman Brothers-related lawsuit in Spain.
The court ruling declared that the client “has not shown the occurrence of any alleged failings” to the entity. The plaintiff was a client of the UBS private banking office in Marbella, who had invested all the profits from the sale of land in Lehman Brothers bonds.
The customer lost his entire investment with the bankruptcy of Lehman Brothers on 15th September 2008.