Belgian judiciary rules in favor of Libya’s LIA against GSDT

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Belgian judiciary rules in favor of Libya’s LIA against GSDT

July 14, 2021 - 23:03
Written by: RabiaGolden

Belgian Court of Appeal has issued a ruling nullifying the right to seize funds of the Libyan Investment Authority (LIA).

Whilst Libya was suffering chaos in 2011, the Belgian organization GSDT managed to obtain a judgment in absentia against the Libyan state, seizing Libyan funds, which had been frozen in Luxemburg.

The LIA indicated in a statement that it had in fact received a notification regarding the seizure of its funds in Luxemburg by the Belgian authorities at the time.