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Paris, Abu Dhabi-The Foreign Heard Court Disputes Commission of the Supreme Judiciary Council has achieved a fresh success in foreign litigation, securing public money and saving the treasury loss of millions of dollars. A statement issued by the State Litigation Administration in Libya said the Commission has saved the treasury the loss of $69 million, or the sum of reparations sought in the case filed with the Paris Chamber of Commerce, by the owner of the Turkish Firm 'Chorkofa' against the Libyan state claiming it breached its obligations to protect its investments. 'The jury ruled that the case was over because of insincerity of the claimant, who will be charged with litigation expenses which amounts to $300000, as they will also be compiled to pay to the Libyan state 600000 pounds and a further $12000, with a monthly interest of 2% for losses incurred as a result of arbitration and defence expenses. The Commission has succeeded in saving the sum of LD 690000 for the public treasury, or the sum ruled by the Abu Dhabi Appeals Court in favour of Al Ain Advertising Company for importing technical works from 2001 and 2004 to the Libya Channel. The Court of Cassation in Abu Dhabi has cancelled the ruling and dropped the lawsuit by statute of limitations, and charged the afore-said organisation with the expenses and defence cost.
Source: Libya News Agency