The Libyan Investment Authority (LIA) said it had succeeded in lifting the latest judicial seizures imposed on its assets by international parties and companies seeking to use LIA's funds and assets to pay alleged debts on some Libyan state entities.
LIA said in a statement on Sunday that it challenged those seizures at European courts and refused to use its funds to implement them, adding that the Paris Court of Appeal invalidated the last of these seizures, according to the two rulings issued on 11/16/2023 and 11/23/2023.
LIA said that with the invalidation of the last seizures, for the first time since 2013, there are no judicial seizures on its assets in France.
It also announced the beginning of the second phase of international arbitration procedures with the state of Belgium regarding the seizure imposed by the Belgian authorities on its assets and funds in Belgium in violation of the investment promotion and protection agreement signed by the two countries.
LIA hailed the issuance of UN Security Council Resolution No. (2701) of 2023, in which it reaffirmed its readiness to consider introducing amendments to the asset freeze measures, including allowing LIA to reinvest the assets subject to the freeze for the purpose of preserving their value.
LIA said that during the coming period, it would present to the UN Security Council in coordination with the Board of Trustees its investment plan for reinvesting its assets in a way that could preserve their value.