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

Societe Generale sued in U.K. by Libyan Investment Authority

Posted on 10 March 2014

Societe Generale SA (GLE), France’s second-largest bank, was sued in the U.K. by the Libyan Investment Authority, after the sovereign-wealth fund sued Goldman Sachs Group Inc. in January over derivatives trades.
The claims against Societe Generale exceed $1.5 billion and involve derivative transactions that took place from 2007 to 2009, a spokesman for LIA, who asked not to be identified, said in an e-mailed statement………………………………………..Full Article: Source


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