LIA Progresses Litigations against Goldman Sachs, SocGen

At a hearing in the English High Court today (Thursday), Mr Justice Flaux approved the Libyan Investment Authority’s (LIA) application to appoint interim receivers on its behalf to manage the litigations against Goldman Sachs, Société Générale S.A. and others.

The order today allows for the appointment of partners in BDO LLP as receivers to manage the litigations and the reappointment of Enyo Law LLP as solicitors.

Mr Breish and Mr Bouhadi have come together to take forward the litigations.

LIA Chairman and CEO Mr AbdulMagid Breish says:

I welcome the Court’s willingness to implement our plan to appoint interim receivers to lead the litigations against Goldman Sachs, Société Générale S.A and others.

"I initiated these claims in 2014 as a critical part of our effort to recover for the Libyan people the billions of dollars lost through improper transactions during the Gaddafi regime.

"The Libyan Investment Authority remains a neutral and independent institution committed to the protection and careful stewardship of the nation’s assets.

(Source: LIA Tripoli)

(Court image via Shutterstock)

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