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Sovereign Wealth Funds Briefing - Categorized | Investment

SocGen the next target for Libyan Investment Authority

Posted on 04 February 2014

Société Générale is next on the Libyan Investment Authority’s (LIA) legal hitlist, The Independent has learnt. The newspaper reports that it emerged last week that the LIA was suing Goldman Sachs for $1bn in losses made on a series of trades in derivatives linked to shares plus $350m in profits made on fees and interest.
The LIA is, however, planning multiple legal assaults on banks which dealt with the sovereign fund when it was run by placemen of the country’s since overthrown dictator, Colonel Muammar Gaddafi, with the French bank next in line………………………………………..Full Article: Source


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