US hunt for Gaddafi assets blocked
The New York proceedings aimed at recovering billions of dollars in assets allegedly misappropriated during the Gaddafi era were officially suspended on 13 January.
LARMO director Mohamed Ramadan Mensli is behind the recent arrest of his predecessor Anwar Arif. Claiming to be still in office, the latter commissioned two US law firms to help recover the financial assets allegedly embezzled under Gaddafi's rule.
Baker & Hostetler and Holland & Knight have suspended their investigations into Libyan funds allegedly embezzled by the Gaddafi clan abroad. The firms are seeking to understand why two individuals are claiming to be in charge of their client, the Libyan Asset Recovery and Management Office.
Following Paris, Rome will have to organise the next international conference dedicated to Libya. The date of this conference, which will take place under the leadership of Italian Prime Minister Mario Draghi, has not yet been set and is still dependent on the progress of the electoral process.
LARMO, Libya's public agency in charge of recovering Libyan funds abroad, has called on law firms Holland & Knight and Baker & Hostetler to summon eight banks in New York in a bid to recover billions of dollars in missing assets, allegedly embezzled under Gaddafi's regime.
With the postponement of the 24 December elections all but certain, the army chiefs of staff in the west and east of Libya are intensifying their discussions. The aim is to maintain the ceasefire... and also to stand united against the rehabilitation of the former Gaddafi regime, which badly damaged the military system.
Libya's prime minister Abdelhamid Dabaiba has taken control of LARMO, the office charged with tracing millions of dollars worth of assets embezzled under Gaddafi's rule. The investigation points to state bodies LIDCO and ODAC, headed at the time by Dabaiba himself and his cousin Ali Ibrahim Dabaiba.