The Court of Appeal in the British capital, London, issued a ruling recognizing the legality of the board of directors of the current Libyan Investment Authority and the decisions of the Presidential Council and the reconciliation government related to the institution.
The Authority said, in a statement, on Friday, that it would begin taking the necessary measures to remove the judicial custody, receive tasks and assets, and complete the procedures for legal representation before all authorities and financial institutions.
According to the Authority , the court completely rejected all the allegations and arguments presented by the parallel parties that were claiming legitimacy and the right to represent the Libyan Investment Authority.
The Foundation demanded to be able to continue its efforts to permanently remove judicial custody of Libyan funds abroad, and to receive, preserve and develop assets under the relevant laws and the current penal system, according to the Foundation’s statement.
It is worth noting that, in March, the British Commercial Court issued a ruling recognizing the legality of the current head of the Libyan Investment Corporation, Ali Mahmoud Hassan.