Libyan Wealth Fund's Bribery Suit Stumbles Over Service
Law360, London (June 10, 2019, 5:16 PM BST) -- Libya's sovereign wealth fund could face significant delays pursuing bribery allegations against a businessman allegedly tied to the Moammar Gadhafi regime after a London judge on Tuesday revoked the fund's permission to serve the businessman in Dubai following "serious" disclosure failures.
High Court Judge Simon Bryan tossed orders allowing the Libyan Investment Authority to serve its lawsuit against Walid Al-Giahmi by courier in the United Arab Emirates because it never alerted the court to the fact that the allegations may have been brought too late.
The fund had good reason to think Al-Giahmi would at least argue that the claims were time-barred,...
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