Jan. 24 (Bloomberg) -- Occupy London protestors who took over a vacant UBS AG building in the city’s financial district in November dropped a challenge to their eviction at a U.K. appeals court.

The case, which was scheduled to be heard this week, was settled Jan. 20, said Rachael Collins, a spokeswoman at the High Court in London. The anti-capitalist protestors, inspired by a similar campaign in the U.S. targeting Wall Street banks, will decide whether to leave the building voluntarily or stage a peaceful protest when they are scheduled to be evicted tomorrow, said Peter Phoenix, a spokesman for the squatters.

“Every day we’ve been here has been a victory for us,” he said. “You can’t evict an idea and we’ll keep occupying buildings until we’re heard.”

About 28 protestors entered the office block on Nov. 18 and around 60 people spend the night there, Phoenix has said. The building, owned by UBS subsidiary Sun Street Properties Ltd., comprises four multistory buildings across from the bank’s London headquarters.

Occupy London protestors also lost a court case last week by the City of London Corporation, over their protest outside of St. Paul’s Cathedral. A London judge said the municipality has the right to remove the tents from areas near the church.

UBS spokeswoman Hana Dunn declined to comment.

The case is Sun Street Properties Ltd. v. Persons Unknown, case No. 11-4093, High Court of Justice, Chancery Division (London).

--With assistance from Erik Larson in London. Editors: Anthony Aarons

To contact the reporter on this story: Lindsay Fortado in London at lfortado@bloomberg.net; Chris Spillane in London at cspillane3@bloomberg.net.

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net