No Result
View All Result
Monday, May 29, 2023
23 °c
Tripoli
21 ° Tue
21 ° Wed
21 ° Thu
22 ° Fri
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Libya

LIA gets a new temporary head – Mohsen Derregia’s removal is finally publicly confirmed by the Prime Minister

bySami Zaptia
February 28, 2013
Reading Time: 3 mins read
A A
LIA gets a new temporary head – Mohsen Derregia’s removal is finally publicly confirmed by the Prime Minister

Prime Minister Ali Zeidan finally named the LIA today at his press conference (Photo: Sami Zaptia).

14
SHARES
59
VIEWS
Share on FacebookShare on Twitter

By Sami Zaptia.

 

Prime Minister Ali Zeidan finally named the LIA today at his press conference (Photo: Sami Zaptia).

 

Tripoli, 28 February 2013:

Libya’s worst kept secret is no longer.

RELATED POSTS

Top law firm joins new British Libyan Business Association

An academy with a difference in Tripoli

Prime Minister Ali Zeidan finally came out in public at . . .[restrict]today’s press conference and confirmed that he had ordered the appointment of a new head of the LIA.

The rumour has been doing the rounds since the start of February. The internet has been busy dissecting and speculating about the decision for weeks.

The chatter has been about the fact that Zeidan, in his guise as head of the Board of Trustees, has appointed a new LIA head. However, the incumbent LIA head, Mohsen Derregia, has refused to give up his post – throwing doubt on the legality of his dismissal.

This speculation reached fever pitch when last week Prime Minister Zeidan in his press conference cryptically referred to those who had been relieved from their positions, but had refused to leave.

Libya Herald has been aware of the story, but has been unable to obtain any documentary evidence on which to base a story – until this week.

At the beginning of this week Libya Herald finally received a copy of the decision by the Libyan Investment Authority’s (LIA) Board of Trustees removing Mohsen Derregia, Chairman and CEO from his post. The documents read as follows:

Decision No. (2) 2013 by the LIA Board of Trustees entitled “Regarding Appointing Chairman of the Board and CEO of the LIA” stipulates in Article (1) “The temporary appointment of Mr Ali Mohamed Salem Hibri Chairman and CEO of the LIA who commences the role of the Board of Directors until the appointment of a Board of Directors and a CEO”.

Article (2) annuls Board of Trustees decision No. (14) 2012 which had reappointed the Board of Directors of the LIA.

Article (3) stipulates that this decision is effective from its date and annuls all previous decisions. The decision was not signed by any individual name, but by the Board of Trustees.

This decision was dated 30th January 2013 and is accompanied by a letter dated 7th February 2013 addressed directly to Mohsen Derregia informing him of the decision of the Board of Trustees appointing Ali Hibri and goes on to state “on the occasion of the end of your appointment with responsibilities within the LIA we direct heartfelt thanks and appreciation on your efforts during the duration of the past period”. The letter was signed by Hussein Abuhadi.

Armed with the above documents, Libya Herald emailed the LIA head this week. Libya Herald has been seeking an interview with  Mohsen Derregia for a month. Within minutes of emailing the above documents to the LIA, we received a phone call and an interview was arranged within an hour.

During the interview, Mr Derregia made a forceful case for his decision to remain in office based on legal, procedural and political reasons.

Moreover, whilst respecting Libya Herald’s right to publish this news in English, he appealed to us on the basis of “Libya’s national interest”. He agreed that the news was being widely circulating on the internet in Arabic and to an extent in English.

However, he felt that if it were published in Libya Herald it would have ramifications on Libya’s investments abroad.

Libya Herald agreed to hold off publication temporarily and at least until we could give the Prime Minister a chance to counter Mr Derregia’s side of the story.

Upon contacting the Prime Minister’s office and informing them of our desire to publish the documents and the news in English, we were invited in for a meeting during which we were asked to delay publication until the Prime Minister could reflect and until the Cabinet met on Thursday (28th).

The decision to delay publication was not an easy decision for Libya Herald. We explained to both the Prime Minister’s office and the LIA head that it would be temporary. We stressed that it was not our role to do either the job of the LIA or the Prime Minister. Our role is the publication of news – responsibly yes, but ultimately we owed a transparent duty to our readers.

Ultimately, the Prime Minister solved Libya Herald’s dilemma and conflict of interest between transparency and the greater national good today – by publicly naming the LIA at today’s press conference.

Libya Herald will be publishing an exclusive interview with the LIA head Mohsen Derregia in which he explains why he felt he was right in not leaving his post.

  [/restrict]

Tags: Ali ZeidanLIALibyaLibyan Investment AuthorityMohsen DerregiaPrime Minister
Share6Tweet4Share1

Related Posts

State recognised militia and Libyan Army clash in central Tripoli
Libya

State recognised militia and Libyan Army clash in central Tripoli

May 29, 2023
FDCC destroys non-conforming shipments of medicines, calls on suppliers to respect Libyan health standards
Libya

FDCC destroys non-conforming shipments of medicines, calls on suppliers to respect Libyan health standards

May 29, 2023
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Tripoli Libyan government conducts drone strikes against criminal hideouts in western coast

May 25, 2023
AmCham Libya Networking Breakfast
Libya

US Embassy in Tripoli announces easing of visa protocol: One-year multiple entry visas now replace three-month single-entry visas

May 24, 2023
Ten former antagonists, now presidential candidates, including Hafter, Bashagha and Maetig gather in Benghazi
Libya

Bashagha suspended by HoR as eastern-based prime minister

May 19, 2023
Acting Interior Minister Trabelsi taking steps to counter forged ID numbers and passports
Libya

Acting Interior Minister Trabelsi taking steps to counter forged ID numbers and passports

May 19, 2023
Next Post

The Projects Authority under Prime Minister’s office, HIB to oversee housing only - Zeidan

No foreign bases in Libya - Zeidan

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU

    Tripoli Libyan government conducts drone strikes against criminal hideouts in western coast

    125 shares
    Share 50 Tweet 31
  • Libya loses US$ 5 bn annually due to illegal Tuna fishing within its territorial waters

    102 shares
    Share 42 Tweet 25
  • US Embassy in Tripoli announces easing of visa protocol: One-year multiple entry visas now replace three-month single-entry visas

    102 shares
    Share 56 Tweet 19
  • Libya and Austria discuss reopening airspace

    79 shares
    Share 35 Tweet 19
  • Tripoli-based Libyan prime minister opens 13th Libya Build displaying 260 exhibitors

    65 shares
    Share 27 Tweet 16
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

State recognised militia and Libyan Army clash in central Tripoli

FDCC destroys non-conforming shipments of medicines, calls on suppliers to respect Libyan health standards

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?