CBL wins 100 million dollar lawsuit against Kuwaiti company

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CBL wins 100 million dollar lawsuit against Kuwaiti company

December 07, 2017 - 15:07
Written by: HousamNajjair

The Central Bank of Libya (CBL) released a statement on Wednesday, confirming that a French court in Nanterre has ruled in favor of the CBL, in a case which would see the Kuwaiti company Al-Kharafi releases a 100 million dollar loan owned to the Central Bank of Libya at the Credit-Agricole Bank.

The CBL also noted that the judgment, issued by the French Court on the 28th of November, requires the Kuwaiti company to pay the expenses immediately after the implementation of the ruling.

The CBL clarified that they filed the lawsuit on the 11th of April last year against the Kuwaiti company, adding that the Kuwaiti company had worked to exploit the political and institutional division of the Libyan state, and use a previous judgment which was set in their favor.

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