Libya has appointed a five-member panel to oversee the operations Libyan Investment Authority (LIA), the $67bn sovereign wealth fund of the war-torn North African country.

The committee in charge of LIA should not dispose of its assets and should protect its rights and follow all of its legal cases, Libya’s UN-backed Government of National Accord (GNA) said in a statement.

Ali Mahmoud Hassan Mohamed is leading the panel, according to the statement, carried by news agency Reuters, which did not say how long the panel will run the affairs.

The government’s announcement came days after the resignation of one of the fund’s competing chairmen, Hassan Bouhadi, who was appointed by authorities who had set up a parliament and government in eastern Libya in 2014

The other competing chairman is Abdul Magid Breish, who was put in charge in June 2013, before the split. He stepped aside a year later, then claimed to have been reinstated following a decision by the Libyan Court of Appeal.

Both of them are not named in the caretaking panel of LIA.

LIA is embroiled in legal cases with financial institutions for claims worth billions of dollars. It opened its London court case against US-based Goldman Sachs on 13 June. The LIA is looking to recover $1.2bn lost in nine disputed trades in 2008, on which Goldman Sachs made a $200m profit. It claims that the trades were made under “undue influence” from Goldman Sachs, and that the complex structured derivatives were unsuitable for an unsophisticated investor such as the LIA.

Goldman Sachs says the claims are “without merit and we will continue to defend them vigorously,” and claims that LIA’s losses were due to the 2008 global financial crisis.

The LIA which was set up in 2006 to manage and invest Libya’s oil wealth is also pursuing France’s Societe Generale in a similar case worth $2.1bn.

Over a third of the fund’s assets remain frozen under sanctions imposed by the U.N. Security Council in 2011 to prevent money being spirited out of the country.