Libyan Investment Authority v Societe Generale SA & Ors [2020] EWHC 3659 (Comm) (18 December 2020)

Libyan Investment Authority v Societe Generale SA & Ors [2020] EWHC 3659 (Comm) (18 December 2020)

Permission to use the 30 disclosed documents is granted because there are cogent and persuasive reasons for collateral use, the documents are relevant to the issues in the Credit Suisse proceedings, there is no prejudice or injustice to the disclosing parties, and the public interest in the just resolution of disputes outweighs confidentiality concerns.

Citation
[2020] EWHC 3659 (Comm)
Parties
Claimant/applicant: Libyan Investment Authority; Defendant/respondent: Societe Generale S.A.; Defendant/respondent: SGA Societe Generale Acceptance N.V.; Defendant/respondent: SG Option Europe; Defendant/respondent: Codeis Securities S.A.
Jurisdiction
England and Wales
Judgment Date
18 December 2020
Procedural Posture
Application in Ongoing Commercial Proceedings / Hearing of Application to Lift Restriction on Collateral Use of Disclosed Documents
Outcome
Application granted
Legal Topics
Collateral Use of Disclosed Documents, CPR 31.22, Fraud, Bribery, Limitation, Confidentiality
Civil Procedure Commercial Law Collateral Use of Disclosed Documents CPR 31.22 Fraud Bribery Limitation Confidentiality

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Parties

Libyan Investment Authority

Claimant/applicant

Societe Generale S.A.

Defendant/respondent

SGA Societe Generale Acceptance N.V.

Defendant/respondent

SG Option Europe

Defendant/respondent

Codeis Securities S.A.

Defendant/respondent

Procedural Posture

Application in Ongoing Commercial Proceedings / Hearing of Application to Lift Restriction on Collateral Use of Disclosed Documents

Legal Issues

  1. 1 Whether the claimant should be permitted to use 30 documents disclosed in previous proceedings for collateral purposes in separate litigation
  2. 2 Whether redactions applied to certain documents should be lifted
  3. 3 Whether there is prejudice or injustice to the disclosing parties

Ratio Decidendi

Permission to use the 30 disclosed documents is granted because there are cogent and persuasive reasons for collateral use, the documents are relevant to the issues in the Credit Suisse proceedings, there is no prejudice or injustice to the disclosing parties, and the public interest in the just resolution of disputes outweighs confidentiality concerns.

Court Disposition

Application granted

Orders

  • Permission granted to LIA to use 30 disclosed documents in Credit Suisse proceedings and any appeals
  • Redactions on relevant documents to be lifted, subject to liberty to apply provision