Kuwait Pension Fund Can't Bring $850M Bribery Fight In UK
Law360, London (November 6, 2020, 6:03 PM GMT) -- A judge ruled on Friday that Kuwait's pensions authority can't sue two Swiss private banks in London as part of an $848 million bribery and money laundering claim against its former director because the agency signed binding contracts to litigate in Geneva and Luxembourg.
In a 153-page decision handed down Friday afternoon, High Court Judge Andrew Henshaw blocked Kuwait's Public Institution for Social Security from pursuing claims in England that accuse Banque Pictet & Cie SA and Mirabaud & Cie SA of bribing the pension authority's former director general, Fahad al-Rajaan.
The judge found that the bribery claims against 10 Pictet and Mirabaud units, former senior...
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