The Libyan state was able to obtain two successful rulings in September and October involving the equivalent of € 30 million. Libya’s Supreme Judicial Council’s Litigation Department / Disputes Hearing Abroad Committee reported last Monday that it was able to obtain a ruling from the Paris Court of Appeal in favour of the Libyan state on 5 September 2023 against three Swiss companies. The court ordered each company to pay an amount of 50,000 euros to the State of Libya. This prevented the Libyan state from paying the sums of money claimed in the settlement agreements that were allegedly signed based on a power of attorney from a representative in the Ministry of Finance to conclude an arbitration agreement on behalf of the Libyan state. It also obligated the Tunisian company to pay an amount of € 79,000.00 euros and an amount of US$ 134,41,886 with interest for the legal expenses and fees of the Libyan state.
