A civil court has declared that the former boss of More Supermarkets, Ryan Schembri, had fraudulently bound the company with a €3.5m contract for constitution of debt, at a time when he no longer legally represented the supermarket chain. Schembri, cousin to former OPM chief of staff Keith Schembri, had fled the country in 2014 with a reported €40 million in debts left behind from the More Supermarkets crash. The civil lawsuits had been filed against Edmond Mugliett, Alexander Farrugia, Adrian Agius, Cassar and Schembri (Marketing) Ltd, and Schembri and Agius, by More Supermarkets Ltd and More Holdings Ltd. The supermarket companies had argued that their former bosses, Agius, Mugliett, and Farrugia, had never loaned the monies and that the constitution of debt had been a fabrication. The judge ruled that Schembri had acted fraudulently and that he was no longer authorised to represent the supermarket chain when he signed the debt agreement.

Source: Libya Today March 28, 2023 19:55 UTC