Financial Services Industry
Industry: Email Alert RSS FeedUBS sues corporate hospitality group.
Financial News, February, 2003
The chilly corporate climate means banks insist on getting their money's worth from dwindling schmoozing opportunities - so much so that UBS is suing an event organiser that promised 'luxurious hospitality' but served VIP clients 'warm beer and cheap white wine' at the final of Europe's premier club football competition.In a lawsuit filed at London's High Court, Switzerland's largest bank is claiming unquantified damages from Sports Mondial. The company arranged for 28 bankers and 71 of their clients to attend the UEFA Champions League final in Milan between Bayern Munich and Valencia in May 2001.
UBS paid pound sterling899 ([euro]1,358) a head, totalling almost pound sterling90,000. The guests had been invited by foreign exchange and treasury staff from the...
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