UBS must find new evidence for Lakah case

UBS has been told it may not use evidence from an old arbitration proceeding in its case against Egyptian businessmen Ramy and Michel Lakah. UBS, among other banks, is hoping for a successful court case against the brothers after alleging the Lakah's defaulted on a $100m debt.

By Jack Newsham (June 15, 2016, 6:05 PM EDT) -- Egyptian businessmen Ramy and Michel Lakah blasted a request by a gaggle of banks who blame the brothers for a $100 million debt default to re-use witness statements from an arbitration proceeding that the Lakahs don't want anything to do with, telling a New York federal judge Tuesday that they deserve to cross-examine the witnesses....

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