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

Citi v Abu Dhabi – Will it ever end?

Posted on 14 January 2014

Two of the largest financial institutions in the world may again be heading back to court as one of the most toughly fought battles since the financial crisis began looks set for another round. On December 23 last year, Citigroup lodged an appeal against a decision that had been handed down on November 26. This decision had gone against the bank, which had appealed against a previous decision to dismiss an earlier claim and compelled arbitration between it and the Abu Dhabi Investment Authority (ADIA).
Citi had lodged the appeal to the United States Courts of Appeals for the Second Circuit, according to publically available documents. There has been no published indication as to whether this appeal has been granted………………………………………..Full Article: Source


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