Goldman and former client trade lawsuits


Goldman Sachs and Lynne Ng Su Ling, an independent director at LionGold, traded lawsuits in London over payment demands after shares owned by Ng and held by the bank as debt collateral plunged in an October stock rout.

Bloomberg reports that two Goldman Sachs units are seeking $17.5m from Ng, money the bank says she owes after it sold her shares, according to a countersuit by the bank filed March 24 and made available over the weekend.

In a complaint served on Goldman Sachs in February, Ng says the bank failed to use reasonable efforts to get the best price available when it sold her stock.

Ng’s portfolio with Goldman Sachs totalled $90m including shares in Asiasons Capital, Blumont Group and LionGold, as of September 30, according to court papers. 

To access the complete Bloomberg article hit the link below:

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