Tag Archives | Libyan Investment Authority (LIA)

LIA to ask UN Permission to Invest Billions

By John Lee. The head of the Libyan Investment Authority (LIA) is reported to be planning to ask the United Nations to allow the sovereign wealth fund to invest billions of dollars. Chairman Ali Mahmoud Hassan Mohamed told Reuters: "We have billions of cash in our accounts not invested." Click here to read the full […]

UK Court Decides on LIA Chairmanship Case

By John Lee. The English Commercial Court  has reportedly ruled that Dr Mahmoud is the rightful Chairman of the Libyan Investment Authority (LIA). Several contenders had claimed the position, including Abdulmajid Breish. More here. (Source: Casemine)

New York Lobbyists to represent LIA

GerstmanSchwartz, LLP, a New York-based law practice, has announced that it will act on behalf of the Tripoli-based Libyan Investment Authority (LIA). In recently-filed Foreign Agents Registration Act (FARA) documents, the firm says that Stephen (Shai) Franklin will provide consultancy services to the LIA on its behalf. The firm is 50-percent owned by Bradley Gerstman […]

LifeCo to Restart Operations

Libya’s National Oil Corporation (NOC) has said it had restored natural gas supply to the Libya Norwegian Fertiliser Company (LifeCo). In a statement, the NOC said that factory operations are expected to restart shortly. The announcement follows discussions led by NOC’s chairman, Mustafa Sanalla, with LifeCo’s shareholders, the Libyan Investment Authority (LIA), and Norway's Yara […]

Eni, BP, NOC sign Deal to Resume Libyan Exploration

National Oil Corporation (NOC) Chairman, Mustafa Sanalla, BP Group Chief Executive, Bob Dudley, and Eni CEO, Claudio Descalzi, signed a Letter of Intent (LOI) in London today which will launch the process for Eni to acquire a 42.5% stake in BP’s Exploration and Production Sharing Agreement (EPSA) in Libya, with an aim to boost in-country […]

LIA Leadership Battle "appears sub judice" in Libya - UN

By Padraig O'Hannelly. Those following the continuing battle for control of Libya's sovereign wealth fund, the Libyan Investment Authority (LIA), may be interested to read the summary compiled by the UN's Panel of Experts on Libya. In its final report, the Panel finds that the matter of legality of the formation and functioning of the […]

LIA asks English Court to Discharge Receiverships

 Libyan Investment Authority: Statement regarding Commercial Court application to discharge English Receiverships The Libyan Investment Authority (LIA) has applied to the English Commercial Court to discharge three receiverships in England by formally recognising the LIA’s Board of Directors, chaired by Dr Ali Mahmoud Hassan Mohamed, as appointed by the LIA’s Board of Trustees, which was […]

FMCP wins Libyan Fraud Case

By John Lee. London-based asset manager FM Capital Partners (FMCP), has reportedly won a court case against its former CEO over allegations of fraud and corruption relating to a Libyan sovereign wealth fund. Earlier this year, London’s Commercial Court heard evidence alleging that Frederic Marino and former Julius Baer banker Yoshiki Ohmura conspired to improperly […]