Fri, May 14, 2021
A A A
Welcome mteam
RSS

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

Goldman Sachs abused trust in dealings with Libyan LIA, fund’s lawyer tells trial

Posted on 27 July 2016

Goldman Sachs abused its position as a trusted adviser to Libya’s sovereign wealth fund, a lawyer for the fund argued on Tuesday, in a case that has subjected the bank’s dealings to a forensic degree of scrutiny.
In a trial at London’s High Court, the Libyan Investment Authority (LIA) is attempting to claw back US$1.2 billion from the Wall Street giant in relation to nine disputed trades carried out in 2008, arguing that the trades were secured through “undue influence” and “unconscionable bargaining”. The LIA argues the bank took advantage of its financial naivety by first gaining its trust, then encouraging it to make risky and ultimately worthless investments………………………………………..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
banner
banner
May 2021
M T W T F S S
« Nov    
 12
3456789
10111213141516
17181920212223
24252627282930
31