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The US investment bank has withdrawn its request for a summary judgment in the dispute lodged at the High Court, it confirmed on Tuesday.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]