By Libya Herald reporter.
Tunis, 30 April 2015:
The Libyan Investment . . .[restrict]Authority (LIA), Libya’s main sovereign wealth fund investment arm, has vowed to continue with its legal actions against Goldman Sachs and Societe General.
The confirmation of the LIA’s decision to continue its legal action at the courts in London came out today in reaction to revelations that the LIA’s legal firm, Enyo Law LLP, in these two cases had resigned on Tuesday.
In its statement released this evening, the LIA said that ‘‘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’’, the LIA statement concluded.
At the time of publication of this article Enyo had made no public statement on the matter and the LIA would not make any further comments to Libya Herald, including reasons for the resignation of Enyo. [/restrict]
