LIA wins another important court case towards protecting its assets

By Sami Zaptia.

London, 15 June 2020:

The Libyan Investment Authority (LIA), Libya’s main sovereign wealth fund, has won another important judicial victory in pursuit of its protection of its assets.

On 11 June, the Brussels Court of Appeal ruled that the US$15 billion LIA assets could not be transferred outside the Belgian Euroclear banking system after a reservation on the assets was made.

The decision of the Brussels Court requires that the assets remain in the Euroclear system rather than be transferred to an external account under the supervision of the Belgian judiciary . . .

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