UBS has filed a counter claim in London against Germany's HSH Nordbank, which issued a lawsuit on Monday and is seeking $275m (â¬186m) in damages for failed investments in a structured credit vehicle managed by the Swiss bank.
Speaking at the extraordinary general meeting in Basel yesterday, Peter Kurer, group counsel of UBS said: "We have filed a lawsuit in London that we are not in agreement with the claims. We are not at fault."
