Trial date between Libya fund and SocGen delayed

Societe General Sign

A trial date for a lawsuit brought by Libya's $67bn sovereign wealth fund against investment bank Societe Generale was pushed back to April 25, 2017, by a judge's ruling in London's High Court.

Reuters reports that the case, in which the Libyan Investment Authority (LIA) is pursuing Societe Generale for some $2.1bn in relation to disputed trades, was originally scheduled to come to trial in January 2017.

The judge's ruling came in response to a request for an adjournment by lawyers for the bank, who had cited the volume of work that still needed to be done.

In the three-day hearing in London this week, lawyers for the LIA also applied for further information concerning the meaning of code words allegedly used by SocGen employees.

To access the complete Reuters article hit the link below:

Trial date for Libya fund suit against SocGen pushed back to April

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