Libyan Investment Authority sues JPMorgan Chase

By John Lee.

The Libyan Investment Authority (LIA) has reportedly filed a lawsuit in London against JPMorgan Chase and businessman Walid Al-Giahmi for what it says is “commercial fraud”.

While the details of the case have not been disclosed, Bloomberg suggests that the case probably relates to transactions with Bear Stearns, which JPMorgan bought in 2008.

The case is The Libyan Investment Authority v. JPMorgan Chase & Co & Others, High Court of Justice, Business and Property Courts, Case No. CL-2018-000228.

(Sources: Bloomberg, Reuters)

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