A Miami judge approved the delay in the US tax authority’s case against UBS to allow a possible out of court settlement that could result in America making do with a fraction of the information it had demanded from the Swiss bank.
Switzerland and the US Department of Justice (DoJ) are now locked in negotiations in an attempt to end a civil suit that put to the test Switzerland’s reputation for banking privacy and America’s campaign against tax evasion.
Judge Alan Gold, presiding over the District Court for the Southern District of Florida, said that he would further delay the hearing if the countries got close to a settlement in the next two weeks.
He said that he expected the two parties to give an