Lawyers for Libya's Investment Authority quit during Goldman lawsuit

Gavel

Libya's attempt to sue Goldman Sachs for losing the state’s wealth fund more than $1bn during the Gaddafi era has been dealt a severe setback, after lawyers walked away from the case.

The Daily Telegraph reports that City law firm Enyo, which has been acting on behalf of the Libyan Investment Authority (LIA) in London court battles against Goldman and French bank Societe Generale, ceased to act as the LIA’s solicitors as of Tuesday morning, according to court documents seen by the newspaper.

The LIA is not believed to have appointed new lawyers, and it is unclear whether the lawsuits will be able to continue. The collapse of the cases would put an end to a colourful legal battle that referenced links to the Gaddafi family and reportedly went as high as Goldman chief executive Lloyd Blankfein.

To access the complete Daily Telegraph article hit the link below:

Libya's $1.2bn Goldman lawsuit hangs in balance after lawyers quit

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