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LIBYA

As top French court set to rule on Al Kharafi affair, LIA turns to Havas for PR

The Fnac des Ternes building is one of the assets concerned. © Olivier Boitet/Le Parisien/MaxPPP

The Paris Court of Cassation is today due to decide on the Kuwaiti construction group's bid to seize hundreds of millions of euros of the Libyan Investment Authority's French assets. Meanwhile, Havas is helping the LIA with its communications. [...] (581 words)

Issue dated 14/09/2021 Reading time 3 minutes

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Business

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LIBYA
Abdelhamid Dabaiba
Airbus
Al Kharafi
Alexis Madelain
Ali Mahmoud Hassan
Arab International Bank
Court of Justice of the European Union
DGTrésor
Emmanuelle Trichet
Fathi Bashagha
Fnac
Gaddafi
Gide Loyrette Nouel
Guillaume Tapie
Havas
Lafico
Libyan Investment Authority
Societe Generale
United Nations

EU Court of Justice lifts sanctions on LAICO

On 28 September, the Libyan African Investment Company (LAICO), the

LIBYA Business 02/06/2022

Tripoli continues battle against Al Kharafi and Siba Plast in Paris

Libya and its sovereign wealth fund LIA are battling to protect their French assets from being seized by the Kuwaiti group Al Kharafi and a mysterious Tunisian entity, Siba Plast. These assets include a building housing one of Fnac's outlets in Paris, as well as more than €150m in liquid assets.

LIBYA Business 21/04/2022

In Paris, LIA wins some and loses some in marathon Siba Plast affair

The Libyan sovereign fund and its subsidiary LAFICO have made successful appeals against Tunisian company Siba Plast, which is looking to seize €280m worth of assets from them in France. However, LIA companies which own real estate in Paris had the seizures against them confirmed.

The premises of the Fnac building in Les Ternes, Paris, are being seized.

Fom left to right: Siddiq Al-Sour, Abdelhamid Dabaiba, Al Seddik Omar Al-Kabir and Najla Al Mangoush. On the right: Ali Mahmoud Hassan. © Gouvernement d'unité nationale/Facebook

Spotlight

LIBYA Politics 04/02/2022

Dabaiba sticks behind LIA boss Ali Mahmoud Hassan despite Belgian arrest warrant Free

With an international arrest warrant issued by a Belgian judge hanging over his head, the chairman of the Libyan sovereign wealth fund, Ali Mahmoud Hassan, can still count on the prime minister's support. Meanwhile, the Libyan attorney general Siddiq Al-Sour has promised to improve judicial cooperation with Brussels.

LIBYA Finance Business 04/01/2022

With €280m at stake, Siba Plast case gets complicated for LIA

This month, the Libyan sovereign wealth fund will attempt to have the seizures initiated by Siba Plast in Paris invalidated. The little-known Tunisian company is claiming €280m for a contract to restructure the judicial police, which was never executed.

LIBYA Business 05/11/2021

Judicial deadlock in Paris in LIA-Al Kharafi case

The Paris Court of Cassation has not ruled on Al Kharafi's request to seize the Libyan Investment Authority's assets, preferring to await a European Court of Justice ruling on an Iranian case. Meanwhile, the Kuwaiti group has obtained some domestic diplomatic support.

LIBYA Business 28/10/2021

French entrepreneurs return to Tripoli with grand plans but little traction

The French employers' association Medef and the Franco-Libyan chamber of commerce are back in Libya and hope to organise an oil summit in Paris in February. But they are likely to have to wait a little longer for any major contracts.

A Medef International delegation was in Tripoli from 10 to 11 October 2021.

Palm City Residences, Libya. © Palm City Residences/Facebook

In Focus

LIBYA Business Diplomacy 18/10/2021

How Tripoli's ritzy 'Green Zone' Palm City rides the storm

Built just before the fall of the Gaddafi regime by the Pisani family-owned Maltese group Corinthia, the 413 villas of Palm City have become the place most diplomats and humanitarian expats in Tripoli call home.

Spotlight

FRANCE LIBYA Business 01/10/2021

After Al Kharafi and Sorelec cases, huge new arbitration threatens LIA's French assets again

Plastic surgery specialist Aymen Boujbel's Tunisian import-export business Siba Plast is trying to seize €280m in assets from the Libyan Investment Authority through a claim on a prison construction contract signed with Libya's National Transition Council in 2012.

LIBYA Politics Diplomacy 14/06/2021

Havas quietly assists as Fathi Bachagha tours Europe ahead of presidential poll

The former interior minister, who is running in December's election, is visiting several European capitals to drum up support. Paris-based PR firm Havas is helping out.

Former Libyan Minister of the Interior Fathi Bachagha.

LIBYA Diplomacy 07/05/2021

Gaddafi's Airbus flies for first time in seven years

On 3 May, the luxurious Airbus A340 that once belonged to Muammar Gaddafi, took off for a test flight after being grounded at Perpignan airport since 2014.

KUWAIT LIBYA Business 20/01/2021

Paris FNAC store case to be heard by France's Court of Cassation in March

Kuwaiti construction group Al Kharafi, which is seeking $1bn in compensation from the Libyan Investment Authority following the cancellation of a big property project in Janzour, has had seized a number of the authority's assets in France, among them the FNAC store in Paris's Avenue des Ternes.

The FNAC store on Paris' Avenue des Ternes.

FRANCE KUWAIT LIBYA Diplomacy 21/10/2020

Al Kharafi affair: Paris opposes unfreezing of Libyan Investment Authority fund's French assets Free

The Directorate General of the French Treasury has refused to release the assets of the Libyan sovereign wealth fund claimed by the Kuwaiti group in its €1bn dispute with Libya. These assets include the Fnac building in Paris' Ternes district, and sums held with Société Générale.

The Fnac des Ternes building is part of the property concerned by the dispute.

LIBYA Business 28/09/2020

Arbitration: $1bn Al Kharafi-LIA dispute to play out in France's highest court

The Kuwaiti company is fighting to the bitter end to keep hold of the Libyan sovereign fund's French assets it seized seven years ago, but the arbitration ruling behind the confiscation has been reversed in Egypt.

Set up email notifications for these topics

LIBYA
Abdelhamid Dabaiba
Airbus
Al Kharafi
Alexis Madelain
Ali Mahmoud Hassan
Arab International Bank
Court of Justice of the European Union
DGTrésor
Emmanuelle Trichet
Fathi Bashagha
Fnac
Gaddafi
Gide Loyrette Nouel
Guillaume Tapie
Havas
Lafico
Libyan Investment Authority
Societe Generale
United Nations

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