News In Brief
French court ruling in favor of Kuwaiti Al-Kharafi Company against CBL
January 10, 2023 - 02:36
Written by: LibyaMohammed
The Court of Appeal in Paris issued this January a new judicial ruling in favor of the Kuwaiti Al-Kharafi Company against the Central Bank of Libya (CBL), which stipulated rejecting the objection submitted by the bank regarding the powers of the arbitration decision issued in Cairo.
The court also ruled of rejecting all the claims submitted by the Libyan government, the Ministries of Economy and Finance, the General Council for Investment Promotion and the Investment Authority, in addition to obligating the CBL to pay the compensation claimed by Mohammed Abdul Mohsen Al-Kharafi and Sons Company, in addition to paying the costs of the case.