UES Named as Defendent in Suits: Peat...

UES Named as Defendent in Suits: Peat Marwick Main & Co. filed a third-party complaint against Encino-based United Education & Software Inc. The New York-based accounting firm said it wants UES to share in the potential liability that it might face in lawsuits stemming from problems at a student loan servicing business formerly owned by UES. Peat Marwick had audited loans that were purchased by California Student Loan Finance Corp. and backed by Bank of America. The UES unit serviced the loans, but a government probe found major operational problems, and Bank of America said it and other banks could lose up to $650 million as a result of the foul-up. UES said it would seek coverage from Bank of America for any potential liability.