News In Brief
LFB wins two court rulings, lifting seizures on its assets in France
The Libyan Foreign Bank (LFB) managed, early this month, to win two rulings issued in its favor by the French Court of Appeal, to lift the seizures previously made by the Siba Plast Company on its assets in France, amounting to 280 million euros, claiming to have rights with the Libyan state.
In a statement on its official website on Tuesday, LFB considered these two rulings the culmination of continuous efforts to reform LFB conditions through strategic projects launched in 2021, including a project to protect LFB assets and investments.
It is to be noted that the French Court of Appeal recognized the independence of the financial and legal personality of the Libyan Foreign Bank from the responsibility and legal personality of the Libyan state.