IN BRIEF (Page 17)

Property claim

UBS AG, Switzerland's biggest bank, charged inflated fees at an $11.7 billion US real-estate fund by overvaluing some commercial properties, a former official alleges in his wrongful-termination lawsuit.

Richard Trusz, 52, who was managing director and head of valuations at UBS Realty Investors LLC in Hartford, Connecticut, said in court papers that before being fired in August he repeatedly clashed with his bosses over returning fees to clients, including public pension funds in Alaska and Iowa. "The allegations made by Mr Trusz are completely without merit and have not been substantiated," a UBS spokesman said.