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UBS Appeals $1.4 Billion Bail in French Tax Evasion Probe

UBS AG asked a Paris appeals court to overturn a $1.4 billion bail looming over the Swiss bank as France steps up a two-year-old tax evasion probe.

The hearing dragged on for nearly three hours as the parties argued the case. The court said it would decide on the appeal on Sept. 22, UBS lawyer Denis Chemla said after the closed-door proceedings. Magali Josse, a spokeswoman for the court, confirmed the date of the ruling.