THE LIBYAN INVESTMENT AUTHORITY – V – JP MORGAN AND OTHERS  EWHC 1452 (Comm)
PCB acted for Mr Walid Giahmi in successfully challenging the jurisdiction of the English court. The case was one of a series of claims and threatened future claims against Mr Giahmi and a number of major Western banks, alleging that investments were made by the Libyan Investment Authority (“the LIA”) with those banks due to Mr Giahmi paying bribes to LIA employees. PCB persuaded the Court that the LIA had seriously breached its duty of full and frank disclosure when it obtained permission to serve him out of the jurisdiction, in particular because it had failed to draw the Court’s attention to the relevant test for limitation and the related evidence tending to show that the LIA could not satisfy that test. Indeed, the Court was persuaded that the LIA had no reasonable prospect of satisfying the test and the claims were therefore time-barred.