PHOTO
By Claire Milhench
LONDON, May 3 (Reuters) - The start of a London trial brought by Libya's $67 billion sovereign wealth fund against French investment bank Societe Generale
SOGN.PA
has been adjourned for a second day, a spokesperson for the Libyan Investment Authority (LIA) said.
No reason was given for the delay and neither side would comment on the possibility of an out-of-court settlement.
The case, which had been expected to run until the end of July, was due to focus on five trades totalling $2.1 billion, executed between 2007 and 2009, before Colonel Muammar Gaddafi was ousted as Libyan leader.
Last summer the LIA lost a high-profile case against Goldman Sachs in which it tried to claw back $1.2 billion from the Wall Street firm in relation to nine equity derivatives investments carried out in 2008.
(Reporting by Claire Milhench; Editing by Mark Trevelyan) ((claire.milhench@thomsonreuters.com; +44)(0)(207 542 3571; Reuters Messaging: claire.milhench.thomsonreuters.com@reuters.net))
LONDON, May 3 (Reuters) - The start of a London trial brought by Libya's $67 billion sovereign wealth fund against French investment bank Societe Generale
No reason was given for the delay and neither side would comment on the possibility of an out-of-court settlement.
The case, which had been expected to run until the end of July, was due to focus on five trades totalling $2.1 billion, executed between 2007 and 2009, before Colonel Muammar Gaddafi was ousted as Libyan leader.
Last summer the LIA lost a high-profile case against Goldman Sachs in which it tried to claw back $1.2 billion from the Wall Street firm in relation to nine equity derivatives investments carried out in 2008.
(Reporting by Claire Milhench; Editing by Mark Trevelyan) ((claire.milhench@thomsonreuters.com; +44)(0)(207 542 3571; Reuters Messaging: claire.milhench.thomsonreuters.com@reuters.net))
