Region: Libya

The French Court of Cassation has blocked a Kuwaiti arbitral creditor from attaching US$300 million worth of assets belonging to a Libyan sovereign wealth fund, in line with recent EU case law curbing attempts to target assets frozen by international sanctions.

08 September 2022

A German court has ruled that an Austrian construction company can partially enforce an €84 million investment treaty award against Libya, rejecting arguments it violated public order.

16 August 2022

An Indonesian energy company has reportedly brought an ICC claim against the National Oil Company of Libya over a US$900 million oil and gas project disrupted by civil war in the North African state.

20 June 2022

A US appeals court has upheld an Austrian construction company’s €84 million investment treaty award against Libya, rejecting arguments that the tribunal did not issue a final decision and exceeded its powers.

31 May 2022

A French court has lifted attachments on assets of the Libyan Investment Authority worth several hundred million euros – following a European Court of Justice ruling that practitioners say is also likely to complicate enforcement against Russian assets.

20 April 2022

A US court has enforced a €19 million treaty award against Libya over an expropriated dairy and juice factory, rejecting arguments that an ICC panel’s findings were “irrational and absurd” or that the Libyan or French courts were more suitable venues for enforcement.

30 March 2022

The Commercial Court in London has upheld an order enforcing a £16 million ICC award against Libya while ruling a US-owned defence contractor should be deprived of court costs for failing to raise sovereign immunity issues.

14 March 2022

The first GAR Connect Eastern Mediterranean saw speakers discuss dispute-related trends arising from offshore natural gas fields in the Mediterranean itself, in countries bordering the sea like Cyprus, Israel, Egypt, Libya and Turkey, and as far East as the Gulf and Russia.

10 March 2022

A divided ICC tribunal has ruled that Libya’s national oil company can buy out its Emirati partner in a refinery venture – as a dissenting arbitrator complains of due process violations and says the award “deprives a bona fide investor of its investment”.

08 March 2022

Libya has defeated a Turkish investor’s claim for US$190 million in compensation for construction projects that were left incomplete because of the 2011 revolution.

13 December 2021