Libya’s lawyers counterattack against Prince Laurent LIBYA BUSINESS NETWORKS N°1214 08/09/2016 According to our information, the Libyan state litigation department has opened a new judicial front in Belgium in an attempt to block the seizures being sought by Prince Laurent of Belgium. King Philippe’s brother, who is very active in the business field, won a final judgement in mid 2015, which awarded him damages totaling €45 million following cancellation in 2010 of a reforestation contract signed two years earlier by his company, Global Sustainable Development Trust (GSDT), and the Libyan agriculture ministry. The Libyan state ligitation department, which became involved in the affair in 2014, has been trying since to limit the damage. Its European lawyers successfully blocked seizures in Italy and Belgium, notably by claiming immunity for assets belonging to the state. Now, they argue that Libya, then in a period of chaos following the fall of the regime of Muammar Gaddafi, was not properly represented in the legal action brought by Prince Laurent. They plead, too, that the contract was cancelled by mutual agreement and that GSDT was paid €400,000 in compensation. They are seeking reimbursement of this amount, moreover. © Indigo Publications. Reproduction and dissemination prohibited (Intranet...) without written permission. 108181236 Maghreb Confidential is published by Africa Intelligence a news portal by Indigo Publications (Paris). Published on www.africaintelligence.com (Commission paritaire : 1220 W 92894) Copy exclusively for [email protected] - Account # 108181236

Libië eist 400.000 euro van prins Laurent

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Page 1: Libië eist 400.000 euro van prins Laurent

Libya’s lawyers counterattack against Prince Laurent

LIBYABUSINESS NETWORKS

N°1214 08/09/2016

According to our information, the Libyan state litigation department has opened a new judicial front in Belgium in an attempt to block the seizures being sought by Prince Laurent of Belgium.

King Philippe’s brother, who is very active in the business field, won a final judgement in mid

2015, which awarded him damages totaling €45 million following cancellation in 2010 of a reforestation contract signed two years earlier by his company, Global Sustainable

Development Trust (GSDT), and the Libyan agriculture ministry.

The Libyan state ligitation department, which became involved in the affair in 2014, has been

trying since to limit the damage. Its European lawyers successfully blocked seizures in Italy and

Belgium, notably by claiming immunity for assets belonging to the state. Now, they argue that Libya, then in a period of chaos following the fall of the regime of Muammar Gaddafi, was not

properly represented in the legal action brought by Prince Laurent. They plead, too, that the

contract was cancelled by mutual agreement and that GSDT was paid €400,000 in

compensation. They are seeking reimbursement of this amount, moreover.

Maghreb Confidential is published by Africa Intelligence a news portal by Indigo Publications (Paris). Published on www.africaintelligence.com (Commission paritaire : 1220 W 92894)

Copy exclusively for thierry.debels@

yahoo.com - A

ccount # 108181236