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Partner Robert Ray, a member of Pryor Cashman’s Litigation Group, spoke to Reuters for its June 17, 2010 article entitled “Swiss parliament approves UBS-US tax deal.” The article reported that Switzerland’s parliament backed a Swiss-U.S. tax treaty crucial to the future of UBS AG, ending months of uncertainty over the deal and paving the way for renewed recovery at the Swiss bank.

Ray told Reuters that approval of the tax treaty without the uncertainties posed by a popular vote was the best outcome for UBS and Switzerland.  "Uncertainty in any market is the worst possible scenario," said Ray, a former U.S. Assistant Attorney.

To read the article, please click here.