Litigation committee saves Libya losses worth millions of dollars

Litigation committee saves Libya losses worth millions of dollars

January 10, 2021 - 22:14
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Written By: AbdulkaderAssad

The Lawsuits Administration of the Supreme Judiciary Council said the litigation committee saved Libya a financial loss worth 69 million dollars, which was the compensation demanded at a lawsuit filed by Turkish Çukurova company's owner at the Paris International Commercial Court against the state of Libya, claiming Libya had broken contract terms.

The administration said in a statement on Facebook that the arbitration committee decided to remove the lawsuit as the plaintiff wasn't serious, deciding as well to fine the plaintiff 300.000 dollars in arbitration fees, plus paying £600.000 and $12.000 with an interest rate of 2% a month for the arbitration and attorney services.

The administration said it had saved the Libyan state 690.000 Libyan dinars from the verdict of Abu Dhabi Appeals Court for Al-Ain media foundation for selling artistic work to Libya TV channel in 2001 and 2004.

The Abu Dhabi court annulled the verdict and dropped the lawsuit, obliging Al-Ain foundation to pay for the lawsuit and attorneys' fees and ordered the appeal money be returned to the appealing party, which was made on behalf of the Libyan state.

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