LIA Puts Up £1.23M Security In Credit Suisse Bribery Case

Law360, London (November 18, 2020, 5:03 PM GMT) -- The Libyan Investment Authority has agreed to deposit £1.23 million ($1.6 million) with a London court as security for legal costs should it lose its bribery lawsuit accusing Credit Suisse of paying a businessman to close a $200 million investment. 

In a Nov. 6 order only recently made available, High Court Judge Sara Cockerill said that the sovereign wealth fund had agreed to make the deposit for an initial tranche of the bank's costs, despite its stance that Credit Suisse isn't entitled to security. 

The LIA is suing Credit Suisse International and four others over claims the bank paid $12 million...

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