Published on 14 January 2014

Battle to find Gaddafi's loot

Battle to find Gaddafi's loot

Libya's new authorities are deeply divided over the hunt for the frozen and hidden assets of the Gaddafi clan abroad. Set up in August by prime minister Ali Zeidan to shake off foreign "bounty hunters," the Tracing and Assets Recover Support Bureau (TARSB) was tasked with centralizing the search but wasn't given a budget adequate to the job. Rudderless since the mid-December resignation of Abdalla Kablan, TARSB was to have succeeded the Asset Recover Committee (ARC). Founded by the previous government of Abdul Rahim Al-Keeb, that panel refuses to hand over its documents to TARSIB. For their part, state-owned Libyan groups like the National Oil Corp and sovereign funds LIA and Libya Africa Investment Portfolio (LAP or LAIP) want to find their own missing funds and have retained consultants to help them in the quest.

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