AM Trust v. UBS AG

ORDER GRANTING MOTION TO DISMISS

Defendant’s motion for an order dismissing the above-entitled action for lack of personal jurisdiction came on for hearing before this court on January 21, 2015. Plaintiff appeared by its counsel Thomas Easton, and defendant appeared by its counsel Lauren Eber. Having read the parties’ papers and carefully considered their arguments and the relevant legal authority, the court hereby GRANTS the motion as follows and for the reasons stated at the hearing.

BACKGROUND

Plaintiff AM Trust, the sole named plaintiff in this proposed class action, alleges that it is a Bahamian trust created by or for the heirs of Adam Malik (“Malik”), an Indonesian politician who served as Vice President of Indonesia under Suharto, and who was also the 26th President.of the U.N. General Assembly. Malik died in September 1984. AM Trust’s “settlor, trustees and beneficiaries” are allegedly the “heirs, assignees, creditors, and executors of the Estate of Adam Malik,” none of whom are identified. See Cplt ¶¶ 17-18.

Defendant UBS AG has a 152-year history as a Swiss financial institution. See Declaration of Anne Wildhaber ¶ 3. The present-day UBS AG was formed in 1998, when…