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FRANCE LIBYA

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. [...] (997 words)

Issue dated 01/10/2021 Reading time 4 minutes

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Business

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LIBYA
Aicha Othmane
Al Kharafi
Anis Boujbel
Augusto Pelliccia
Aymen Boujbel
Banque extérieure d'Algérie
Banque intercontinentale arabe
Daniel Vasilescu
Fnac
Giacorosa
International Chamber of Commerce
Lafico
Libyan Foreign Bank
Libyan Investment Authority
Med Espoir
Muammar Gaddafi
National Transitional Council
Ridha Neffati
Rosalinda Iaocella
Sam Zormati
Siba Plast
Société internationale des bons affaires dans le domaine du plastique
Sorelec
Stefano Bencivenga
Union des banques arabes et françaises

Sam Zormati sentence over attempted Fnac building seizure reduced on appeal

The French-Tunisian businessman, who tried to sell a Paris building belonging to the Libyan sovereign wealth fund LIA and valued at €250m, has had his sentence upheld by the Paris Court of Appeal. Several other legal procedures however continue to threaten Libyan assets in France.

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.

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 Energy Business 11/10/2021

Ex-Gaddafi PR man Sami Jallouli has NOC assets seized in Paris

After having long worked for the Gaddafi regime, Geneva-based Tunisian consultant Sami Jallouli has joined forces with two other creditors of Libya to seize the National Oil Corporation's shares in Mabruk Oil Operations, a joint venture between the NOC and France's TotalEnergies.

LIBYA Business 14/09/2021

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

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.

The Fnac des Ternes building is one of the assets concerned.

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.

LIBYA Business 24/11/2020

Libya rocks arbitration world after convincing French court to cancel $452m Sorelec award

On November 17, the Paris Appeal Court overturned a arbitration ruling ordering Libya to pay €452m to French company Sorelec. In so doing, it has got Fayez Sarrez's government in Tripoli out of a hole...

LIBYA Business 12/12/2019

Sam Zormati and his partners convicted in Paris FNAC affair

After seven years of legal proceedings, Tripoli won a first victory on December 3 in the "FNAC des Ternes" affair,

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LIBYA
Aicha Othmane
Al Kharafi
Anis Boujbel
Augusto Pelliccia
Aymen Boujbel
Banque extérieure d'Algérie
Banque intercontinentale arabe
Daniel Vasilescu
Fnac
Giacorosa
International Chamber of Commerce
Lafico
Libyan Foreign Bank
Libyan Investment Authority
Med Espoir
Muammar Gaddafi
National Transitional Council
Ridha Neffati
Rosalinda Iaocella
Sam Zormati
Siba Plast
Société internationale des bons affaires dans le domaine du plastique
Sorelec
Stefano Bencivenga
Union des banques arabes et françaises

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Facing courts and shareholders, Monaco Resources Group living on borrowed time - and money

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

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Sam Zormati sentence over attempted Fnac building seizure reduced on appeal

Tripoli continues battle against Al Kharafi and Siba Plast in Paris

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

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

Judicial deadlock in Paris in LIA-Al Kharafi case

Ex-Gaddafi PR man Sami Jallouli has NOC assets seized in Paris

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

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

Libya rocks arbitration world after convincing French court to cancel $452m Sorelec award

Sam Zormati and his partners convicted in Paris FNAC affair

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

This article may be accessed by subscribers and e-wallet holders (USD 19.50)

2 options offered to continue reading

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Set up email notifications for these topics

Sam Zormati sentence over attempted Fnac building seizure reduced on appeal

Tripoli continues battle against Al Kharafi and Siba Plast in Paris

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

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

Judicial deadlock in Paris in LIA-Al Kharafi case

Ex-Gaddafi PR man Sami Jallouli has NOC assets seized in Paris

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

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

Libya rocks arbitration world after convincing French court to cancel $452m Sorelec award

Sam Zormati and his partners convicted in Paris FNAC affair

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First visit

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Follow us

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Indigo Publications also publishes: