UPDATE 4-UBS tax deal uncertain ahead of U.S. court case

Fri Jul 10, 2009 5:39pm BST
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* U.S. court hearing starts in Miami on July 13

* SNB chairman says expects resolution of tax conflict

* Settlement still possible, but timing uncertain

* Focus of discussions on data, not money: UBS chairman

* Shares down 2 percent (Adds additional comments, paragraphs 10-12)

By Lisa Jucca and Kim Dixon

ZURICH/WASHINGTON, July 10 (Reuters) - Swiss bank UBS (UBSN.VX: Quote, Profile, Research) (UBS.N: Quote, Profile, Research) braced on Friday for a high-stakes trial in the United States next week that could force it to reveal secret client data, as a last-minute deal remained elusive.

It was unclear whether wealth management giant UBS could settle the damaging tax row before a court hearing starts in Miami on Monday, weighing on its shares.

Washington is demanding that UBS disclose the identity of 52,000 American holders of Swiss accounts suspected of not paying taxes, something UBS Chief Executive Oswald Gruebel cannot comply with as it would be in breach of Swiss criminal law.  Continued...

 
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