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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Market

Libya’s pursuit of lost billions ‘in limbo’

Posted on 06 March 2013

The head of Libya’s sovereign wealth fund says his efforts to recoup billions of dollars lost through sales of derivatives by Goldman Sachs and other financial institutions are now “in limbo” after the country’s prime minister moved to sack him last week.
Mohsen Derregia, head of the Libyan Investment Authority (LIA), told the Financial Times that he believed his pursuit of damages from foreign banks for suspicious deals forged under the regime of Muammer Gaddafi was one of the reasons behind the government’s efforts to replace him………………………………………..Full Article: Source


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