The U. S. and Swiss negotiators require more time to finalize a settlement of the U. S. government's lawsuit against UBS AG in order to get names of about 52,000 suspected American tax evaders.

U. S. District Judge Alan Gold postponed a trial until August 17. The trial, which has already been postponed for three times, will take place if a final agreement is not reached.

Stuart Gibson, Justice Department lawyer in the case, said some issues were not resolved. He further said, "The parties are working through these issues and plan to continue talking."

It may be noted here that earlier this year the Internal Revenue service had demanded Zurich-based UBS to reveal the details of Americans suspected of evading tax. Both, UBS and Swiss govt. had resisted at that time, saying it would violate its secrecy laws. But, UBS paid $780 million penalty earlier this year.

In February, UBS confessed that it helped Americans in evading taxes and said it would provide the U. S. govt. with account information of suspected tax evaders.