Mon, Aug 8, 2022
A A A
Welcome mteam
RSS

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

High court judges orders Goldman Sachs to disclose Libya profits

Posted on 25 November 2014

Libyan sovereign wealth fund, which is suing Goldman, estimates the US investment bank made $350m in upfront profit on nine derivatives products. A high court judge has ordered Goldman Sachs to reveal how much profit it made on a deal that lost Libya’s government more than $1bn when financial bets turned sour.
The Libyan Investment Authority, created in 2006 to look after the country’s oil riches, accused the Wall Street bank of duping it into making investments that its “naive” staff didn’t understand. The $66bn sovereign wealth fund is suing Goldman in the high court in London after it lost $1bn from investing in complex derivative investments that collapsed in value during the 2008 financial crisis…………………………………Full Article: Source


 Article link

This post was written by:

VRS - who has written 19873 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
August 2022
M T W T F S S
« Nov    
1234567
891011121314
15161718192021
22232425262728
293031