Libya Takes On Goldman Sachs

A year ago, I reported for Euromoney magazine that the Libyan Investment Authority was preparing litigation against Goldman Sachs for disastrous trades the American bank had put the Libyan sovereign wealth fund into in early 2008. Nothing happens fast in Libya, and the top management of the fund has changed since our story. But on January 28, its lawyers lodged a claim at London’s High Court, accusing Goldman of “deliberately exploit the relationship of trust and confidence it has establi...