The Libyan Investment Authority (LIA) announced, on Saturday, a judicial “victory” that took place last week in the Belgian courts when the Brussels court ruled not to transfer frozen assets worth $15 billion from “Euroclear Bank” after the funds were under reservation.
The LIA pointed out that the court ruling was pronounced last Thursday and permitted the Libyan assets to remain in the Euroclear Banking System.
In a statement by LIA, the chairman, Ali Mahmoud, said that his administration worked in cooperation with legal teams throughout the past period to protect the assets.
The legal department, in cooperation with the Lawsuits Administration in the Libyan state, had won about a week ago a lawsuit in the Cairo Court of Appeal agaisnt Al-Kharafi Company, avoiding paying a compensation of $1 billion.
