| The Libyan Investment Authority (LIA), under the chairmanship of Mr AbdulMagid Breish, has now after a three year battle successfully recovered $53.8 million that had been managed by Cornhill Capital.
A fundamental factor in the issue was Cornhill Capital’s reliance on international sanctions imposed against some of the assets of the LIA. Cornhill was able in the courts of Bermuda to delay the redemption on the grounds that such redemption would have constituted a violation of these sanctions regulations...............................................Full Article: Source |