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Libyan wealth fund trial against SocGen adjourned until Wednesday
May 3, 2017 / 7:57 AM / 5 months ago

Libyan wealth fund trial against SocGen adjourned until Wednesday

The logo of the French bank Societe Generale is seen in front of the bank's headquarters building at La Defense business and financial district in Courbevoie near Paris, France, April 21, 2016. REUTERS/Gonzalo Fuentes

LONDON (Reuters) - The start of a trial brought by Libya’s $67 billion sovereign wealth fund against Societe Generale has been adjourned until Wednesday, a spokesperson for the Libyan Investment Authority (LIA) said.

The LIA is pursuing SocGen in relation to five trades totalling $2.1 billion, executed between 2007 and 2009, before Colonel Muammar Gaddafi was ousted as Libyan leader.

The trial was originally scheduled to start on Tuesday in London’s High Court, and is expected to run until the end of July.

Reporting by Claire Milhench; Editing by Catherine Evans

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