CMS Hits Back at LAP-Malta Claims

In a strongly-worded statement, Dubai-based Catalyst Managerial Services (CMS) has hit back at what it says are "false and misleading" claims from the Malta-based leadership of the Libyan African Investment Portfolio (LAP).

The company says that, contrary to a statement issued by LAP in relation to the ongoing court battle in London, no permission to appeal has been given to LAP, and no stay pending an appeal application has been granted.

In July, the High Court of England and Wales awarded damages of more than US$15 million to CMS for breach of contract. In total, CMS claims more than US$525 million in damages, interest and legal fees.

The full text of the CMS statement can be viewed here, while a copy of a recent court document is available here.

(Source: CMS)

(Court image via Shutterstock)


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