03.09.2015 - Row over Libyan sovereign fund LIA reaches UK court
A row between Libya's two rival governments over control of the $67 billion Libyan Investment Authority, the country's sovereign wealth fund, has escalated with one of the would-be chairmen asking a London court to settle the dispute. Libya is torn between two governments, one based in Tripoli and the second in the east of the country, which have appointed different heads of various institutions, including the LIA, part of the chaos four years after the ousting of Muammar Gaddafi. Hassan Bouhadi, LIA chairman from the internationally recognised government based in eastern Libya, said he had initiated proceedings in the London Commercial Court to determine who has the authority to appoint a board of directors to manage the fund's UK-based assets...............................................Full Article: Source
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