Financial and Banking News

INVESTMENT ACTIVITIES

UK Court Orders Release of Libyan Funds

The High Court in London last week ruled that Bankers Trust co. should release $292mn of Libyan funds which it had frozen in compliance with the January 1986 US freeze on Libyan assets. The Libyan Government also won damages of $2mn for lost interest. Bankers Trust froze a $131mn Libyan deposit at its London branch and refused to comply with a Libyan request to transfer $161mn from its New York head...