LIA Says Bribery Claims Against Credit Suisse No Rehash

Law360, London (October 7, 2020, 8:56 PM BST) -- Libya's sovereign wealth fund has denied rehashing bribery allegations from resolved litigation over allegedly corrupt trades in its English lawsuit against Credit Suisse, arguing bribes paid to the fund's employees by a Libyan businessman could influence different transactions with multiple institutions.

The Libyan Investment Authority hit back at claims by Credit Suisse that it would be an abuse to allege the Swiss bank paid to have LIA staff bribed and intimidated, since it relied upon those same payments in a $1 billion settlement with Societe Generale SA and failed litigation against JPMorgan unit JPMorgan Markets.

In High Court documents filed Oct. 1,...

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