Court date set for Libyan Investment Authority Hearing

Reuters reports that the Commercial Court in London has set 7th March as the date to start hearing the case between the rival leaderships of the $67-billion Libyan Investment Authority (LIA).

Both the Tripoli-based AbdulMagid Breish, and Malta-based Hassan Bouhadi, who was appointed by the internationally recognised government in Tobruk, claim to be the legitimate Chairmen of the sovereign wealth fund.

Until the case is settled, BDO has been appointed as receiver to the fund, in order to continue with LIA's attempting to pursue two banks -- Goldman Sachs and SocGen -- for more than $3 billion that it claims was mismanaged.

(Source: Reuters)

(Court image via Shutterstock)

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