Libya claims $1.2bn damages from Goldman Sachs over trades

Libyan oil fields generate cash for its wealth fund

Libya's $67bn national investment fund is seeking damages from Goldman Sachs, saying the bank encouraged it to make complex, money-losing investments.

The Libyan Investment Authority, which runs the fund, is looking to claw back $1.2bn (£840m) it says was lost through nine disputed trades conducted in 2008. The Libyans said the trades were made under "undue influence".


Goldman said the claims were without merit and it would fight them vigorously. The trial started on Monday at the High Court in London.