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Sovereign Wealth Funds Briefing - Categorized | Financials, Trends

ADIA vs Citigroup – the battle continues…

Posted on 27 September 2013

The largest Abu Dhabi sovereign wealth fund could be about to haul Citigroup back to court with further claims to recover some of the bank’s bailout, after its prior attempts were thwarted in March.
In a document unsealed in a New York court this week, Citigroup said that a claim filed in August by the Abu Dhabi Investment Authority (ADIA) had made an “assault” on a federal court ruling in March, Reuters reported. The March ruling saw ADIA’s claim—and subsequent appeal—to recover $4 billon of the investment it made in the bank during the crisis refused………………………………………..Full Article: Source


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