Banks

Goldman Itching To See Libya Try To Prove That It Sold Worthless Derivatives

Goldman Sachs was going to ask a British judge to throw out the Libyan Investment Authority’s lawsuit against it. But, on second thought, no: Give it your best shot, Libya. Lloyd’s boys are not afraid of you and your self-professed limited financial expertise.

The US investment bank has withdrawn its request for a summary judgment in the dispute lodged at the High Court, it confirmed on Tuesday. A summary judgment is when a matter is determined before trial, and Goldman’s withdrawal of its application removes one hurdle that the LIA would have had to overcome before getting a full hearing of the evidence in court.

Goldman withdraws attempt to stop $1bn Libya fund dispute [FT]

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3 Responses to “Goldman Itching To See Libya Try To Prove That It Sold Worthless Derivatives”

  1. Jon sux says:

    Funny. Folks at PIMCO are itching too

  2. Puck It says:

    Nice hat. Ha ha.

    —Pope Francis

  3. UFO says:

    When Gaddafi said he'd haunt them from the grave if someting went wrong….turnsout he wasn't kiddig