| The two men competing for control of Libya’s $67 billion sovereign wealth fund asked a London judge to decide who has the right to oversee lawsuits seeking to recover billions of dollars lost in deals with French transnational bank Societe Generale SA and Goldman Sachs Group Inc in the US.
Abdulmagid Breish, who is based in Tripoli, and Hassan Bouhadi, who wants to lead the Libya Investment Authority (LIA) from Malta, both argue they are the sole chairman of the fund. The LIA, set up in 2006 to manage Libya’s growing oil revenue surplus, is already the largest sovereign wealth fund in Africa. The 2011 overthrow and death of Libyan dictator Muammar Gaddafi left behind a violent power struggle that continues to blight the oil-rich nation...............................................Full Article: Source
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