LIA denies Reports of Armed Men seizing HQ

A source at the Libyan Investment Authority (LIA) in Tripoli has stated that reports of armed men taking over the LIA headquarters, which have been circulated by some media outlets and on social media, are untrue.

The source reaffirmed that this news has no basis in fact, and that AbdulMagid Breish, Chairman of the LIA, has re-commenced his work from the headquarters of the LIA, following a decision of the second administrative division of the Tripoli Appeals Court.

On 2 January, the Tripoli Appeals Court ruled against Decision 115/2016 made by the Presidency Council of the GNA, which saw the formation of a Steering Committee to manage the LIA. This ruling was made following administrative appeal number 250/2017 made by Mr Breish.

In a statement, the Tripoli-based LIA said:

"The LIA calls on all parties to exercise caution, not to publish such information without first verifying it with official and trusted sources, and to refrain from causing chaos and panic in Libya. It also calls on all parties put their differences aside, so that a united LIA can move forward with the legal and other challenges it faces with respect to its ongoing foreign litigations."

(Source: LIA-Tripoli)

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