Highland Credit Opportunities CDO, L.P. v. Ubs Ag

OPINION

Opinion by

Justice FitzGerald

This case involves distressed debt trading. The appeal follows a bench trial on Highland Credit Opportunities CDO, L.P.’s (“Highland LP”) breach of contract claim against UBS AG (“UBS”) in which the trial court rendered a take-nothing judgment against Highland LP. In six issues, Highland LP asserts: (1) the trial court erred in concluding time was not of the essence under the contract; (2) the trial court erred in ruling that UBS did not commit a material breach of the contract; (3) whether Highland LP was ready, willing, and able to perform the contract is…