LIA Deposits £1.6M For Costs In Credit Suisse Bribery Suit

Law360, London (August 11, 2020, 5:49 PM BST) -- The Libyan Investment Authority has agreed to deposit some £1.6 million ($2.1 million) with a London court as legal costs in its lawsuit against Credit Suisse over alleged bribes to a businessman with ties to former Libyan dictator Moammar Gadhafi's regime.

In a Saturday consent order, the LIA pledged to set aside the money as voluntary security for an initial tranche of costs incurred by GLG Partners Asset Management Ltd., a discretionary fund owned by the British fund manager Man Group PLC.

The LIA has alleged Credit Suisse paid Walid al-Giahmi, a Libyan businessman with supposedly close ties to the Gadhafi...

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