27.11.2013 - ADIA arbitration resurfaces for Citigroup
Citigroup Inc.’s litigation woes continue to increase. Recently, a U.S. judge rejected the banking giant’s bid to obstruct the Abu Dhabi Investment Authority (ADIA) from seeking a second arbitration related to the wealth fund’s investment in Citigroup. In Nov 2007, ADIA invested $7.5 billion in Citigroup, which made it the U.S. bank's largest individual stakeholder – with 4.9% stake. ADIA’s investment provided a capital cushion to the bank after the latter suffered mortgage losses during the financial crisis...............................................Full Article: Source
Print