Atwasat

Libya wins international lawsuit filed by foreign investor seeking $120 million




Alwasat - Cairo Mon 03 Jun 2019, 11:24 AM
alwasat radio

Libyan Justice Ministry announced on Sunday that it has won a lawsuit filed by a foreign investor seeking 120 million U.S. dollars in compensation.

"The lawsuit department has won an appeal of the verdict issued by the international arbitration tribunal in Paris in December 2016 in favor of Salim Ben Mokhtar Ghania, German investor of Tunisian origin," the justice ministry's lawsuit department said in a statement.

The department won the appeal after presenting the evidence proving "fraud and collusion between the investor and Libyan officials with the aim of misleading the arbitration tribunal for personal interests," the statement added, without revealing details of Ghania's investment.

The lawsuit department of Libyan Ministry of Justice represents the government and handles lawsuits filed against the country inside and abroad.

According to the Libyan audit bureau, foreign companies abroad have filed 142 lawsuits against Libya since 2011, demanding compensations of 9 billion euros (10.5 billion dollars)

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