Following the recent report that the law firm representing the Libyan Investment Authority (LIA) in its legal battles against Goldman Sachs and Societe Generale (SocGen) had resigned from the case, the LIA has vowed to continue with its litigation.
In a statement issued through London-based strategic communications consultancy Davidson Ryan Dore, the sovereign wealth fund said:
“The Libyan Investment Authority (LIA) will pursue the litigations it has against parties in the Commercial and Chancery Courts in London.
“The parties are Goldman Sachs and Société Générale. The decision by Enyo Law LLP to come off the record earlier this week will not change this objective.
“The LIA is presently finalising arrangements for a new firm to be instructed and to pursue the litigations.
“The LIA is a sovereign wealth fund. Its principal function is to safeguard and grow sovereign wealth for the benefit of the Libyan people.“