| It is a $1bn blockbuster legal battle pitting Goldman Sachs against Libya’s sovereign wealth fund, featuring colourful allegations of a “lavish trip to Morocco”, gifts, “heavy drinking and girls”. It promises to give a rare glimpse into the bank’s dealings with one of world’s richest investors, and into the behaviour of its bankers before the credit crunch.
And, on Monday, it will finally kick off at London’s High Court. In a lawsuit, the Libyan Investment Authority claims that Goldman exploited the sovereign wealth fund’s limited financial experience in 2008, forcing it into risky and ultimately lossmaking derivative trades. Goldman denies this...............................................Full Article: Source
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