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

Citigroup moves to block new arbitration by Abu Dhabi fund

Posted on 26 September 2013

Citigroup Inc has gone to court to block a new effort by Abu Dhabi Investment Authority to pursue an arbitration over a $7.5 billion investment the sovereign wealth fund made in the bank amid the subprime mortgage meltdown in 2007.
In a complaint unsealed Tuesday in U.S. District Court in New York, Citigroup said that by filing a claim last month, ADIA had made an “assault” on a federal court ruling in March that upheld the bank’s win in an earlier international arbitration………………………………………..Full Article: Source


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