UBS' requests for the dismissal of the proceedings and suspension pending a decision by the Federal Supreme Court have been denied.
On the second day of the appeal trial regarding the Credit Suisse money laundering case connected to the Bulgarian mafia, the Federal Criminal Court in Bellinzona rejected UBS' motions.
According to the Swiss news agency SDA, the presiding judge explained that UBS's motion to dismiss the case is currently pending before the Federal Supreme Court. Therefore, the appeals chamber would not make a decision.
Principle of Expedited Proceedings
The court also denied the request for suspension. The principle of expedited proceedings mandates that the trial continues. However, the appeals chamber reserves the right to postpone the announcement of its decision until the Federal Supreme Court has ruled.
UBS requested a suspension of the trial, citing the pending decision of the Federal Supreme Court. The bank seeks to have the case dismissed, arguing that there is no legal basis for transferring responsibility from Credit Suisse to UBS.
