Libyan Sovereign Wealth Fund Case Set Aside

- Mr Justice Bryan granted Mr Giahmi's application for the LIA's service of proceedings against him to be set aside saying, "The LIA's claims against Mr Giahmi... stand no real prospect of success..." Mr Giahmi welcomed the decision, saying, "This case should never have been started. Libya needs electricity, security, schools and medicine not money wasted on lawyers." In April, the Libyan Government disclosed that the LIA had spent over €500 million on legal fees in litigation against global banks and institutions and in infighting between various claimants for control of the LIA.