Libya successfully defends US$ 69 million arbitration compensation claim case against Turkish company, and a case in UAEBy Sami Zaptia. London, 10 January 2021:Libya has successfully defended a US$ 69 million arbitration claim case by a Turkish company, its Committee for Pending Disputes Abroad of the Supreme Judicial Council (SJC) reported today. The case was before the International Chamber of Commerce (ICC) in Paris and was against ‘‘Matrim Vardan’’ owner of Turkish company ‘‘Shkurva’’. However, the arbitral tribunal ended the lawsuit ruling that the plaintiff ‘‘was not serious’’ and charged him with arbitration expenses of US$ 300,000. Libya defends case in UAEThe Committee for Pending Disputes Abroad also reported today that it was also able to save Libya LD 690,000 or its equivalent in Emirati dirhams, after it successfully appealed a case in the UAE.

Source: Libya Today January 10, 2021 16:05 UTC