LAIP wins Court Appeal against CMS

By John Lee.

The Libya Africa Investment Portfolio (LAP/LAIP) hs announced that it had won its legal battle against Dubai-based Catalyst Managerial Services (CMS).

A London court had previously awarded $15.4 million in damages to CMS for alleged unpaid invoices and wrongful termination of its contract with LAIP prior to the revolution.

But following an appeal by LAIP, the UK court reportedly struck out the ruling last week, and ordered CMS to pay LAIP’s costs.

(Sources: The Libya Observer, Libya Herald)

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