Libyan fund loses legal battle with Goldman Sachs
The acrimonious 2 1/2-year wrangle between the Wall Street icon and Libya's sovereign wealth fund ends in London's High Court in a seven-week trial
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THE outcome of a 2 1/2-year legal battle between Goldman Sachs and Libya's US$67 billion sovereign fund is a triumph for the Wall Street giant, which was vindicated despite embarrassing revelations about how some of its bankers conducted business.
The London High Court found in favour of Goldman Sachs on Friday, with Judge Vivien Rose dismissing the fund's arguments, made over the course of a bruising seven-week trial.
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