Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
The LIA is pursuing claims for $1.2bn in compensation from Goldman Sachs and $2.1bn from Societe Generale (MEES, 15 May), and has launched legal action against four African countries in an effort to recover what it believes are wrongfully appropriated funds (MEES, 7 August).
The LIA’s case against Goldman Sachs began in the UK High Court in June having been filed in 2014. The LIA alleges that the firm led the LIA to make derivative transactions that it did not understand and in which it lost billions of dollars in the financial market crash of 2008. It also alleges that in an effort to win business from the fund Goldman held business meetings on yachts, paid for prostitutes, five-star hotels and private jets, and gave an internship to the brother of former LIA deputy executive director Mustafa Zarti.
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE