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

Goldman in Hot Water? Libyan Fund May Appeal Ruling

Posted on 09 November 2016

The Goldman Sachs Group, Inc. has been yet again accused by the Libyan Investment Authority (LIA) as the fund is intending to approach the UK Court of Appeal. The move comes after the Wall Street banking giant won the $1.2 billion suit last month over a series of derivatives transactions entered between LIA and Goldman in 2008.
According to a report by Reuters , at a hearing on Friday, Judge Vivien Rose did not grant permission to LIA for appealing her October judgment, wherein she had dismissed the case. However, citing a source familiar with the matter, the report stated that the sovereign fund now may seek permission from the Court of Appeal. ……………………………………Full Article: Source


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