Home / Economy / Libya wins legal dispute demanding more than 120 million dinars

Libya wins legal dispute demanding more than 120 million dinars

The Audit Bureau confirmed that the management of the State’s cases in coordination with the Bureau succeeded in winning an arbitration dispute by rejecting the case brought before the International Chamber of Commerce (ICC) in Paris against Libya by the Libyan-Brazilian Company and the Brazilian company Odebrecht.

The Bureau said in a statement on Thursday, the two companies demanded compensation of 129 million dinars, indicating that the details of the case were documented in its annual report in 2015.

The Audit Bureau appreciated the efforts of the State and the Follow-up Committees, calling for continued coordination between judicial, supervisory and executive institutions to block the exploitation of Libya’s crisis.

 

The Audit Bureau stopped earlier procedures for the disbursement of compensation, and addressed the management of cases by refusing to settle with the two companies, and challenge their claims.

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