The Lawsuits Department of the state of Libya that's affiliated with the Supreme Judicial Council announced that it had obtained a ruling in favor of Libya in the arbitration case filed by the legal representative of Al-Maqata Al-Kubra Company in Bizerte, Tunisia, based on the bilateral investment promotion and protection agreement between Libya and Tunisia.
The Head of the Lawsuits Department Counselor Ahmed Bazama said the Overseas Arbitration Committee welcomed on Saturday the letter from the Prime Minister’s Office in the Government of National Unity, which praised the efforts made by them in order to accomplish their tasks.
The facts of the case, according to the Department, are due to an investment arbitration lawsuit filed by the Tunisian company against the Libyan state, demanding compensation of 128 million and 495 thousand and 766 dinars, and one million and 50 thousand euros for the loss of benefit, and the value of the remaining equipment.
On 10 July, the arbitration panel issued its decision in favor of the Libyan state, and ruled to end the procedures in the arbitration case instead of suspending it due to the plaintiff’s failure to pay the expenses of the arbitration lawsuit. The Tunisian company was also obligated to pay 79 thousand euros and 134,41,886 US dollars with interest, for the expenses and legal fees of the Libyan state.
