By Libya Herald reporter.
London, 8 September 2015:
The High Court in London yesterday . . .[restrict]extended the Receivership in the Libyan Investment Authority’s (LIA) litigation case against Goldman Sachs and Société Générale.
It will be recalled that the LIA had successfully applied to the High Court to appoint a Receiver to manage the litigation case against Goldman Sachs and Société Générale in July
The Court appointed Mark Shaw and Shane Crooks of BDO, to act as the Receiver.
Last week the LIA had also applied to the High Court for the exclusive right to appoint its own board without interference from the Tripoli authorities, which are not recognized by the international community.
Following yesterday’s High Court Receivership hearing, LIA Chairman Hassan Bouhadi, said that “The priority for the LIA today was to safeguard the Receivership we had requested earlier this summer. Putting these litigations into what amounts to a trusteeship allows us to ensure the cases continue”.
”The LIA Board of Directors remains wholly supportive of the work of the UN In Libya. We hope to see a Government of National Accord appointed imminently and we look forward to working with the new government as soon as possible. Our primary responsibility is to protect and preserve the assets of the Libyan people and today’s ruling has given us a significant boost in support of this.” [/restrict]