By LIA Media Team.
Malta, 11 August 2015:
It is important to clarify . . .[restrict]a number of assertions on the Libyan Investment Authority (LIA) in an opinion editorial by Jonathan Winer (Special Envoy for Libya in the Bureau of Near Eastern Affairs US Department of State) that ran on Thursday 6 August in your esteemed publication.
Institutions such as the LIA have indeed been providing economic stability in Libya since 2011 amid escalating political turmoil, as the author rightly points out. However, he is mistaken in the fact that there are litigations between competing factions seeking control over the LIA.
The LIA is not in litigation against Mr Breish or other such “factions” he purports to represent. In fact, the LIA acts for all Libyan people and for the common good of the UN peace negotiation process. It is exactly for this reason that the LIA joined forces together with Mr Breish, and those he represents, to secure a receivership in the London courts.
This action will allow the LIA to protect and pursue its interests in its ongoing litigations against Goldman Sachs and Société Générale in the Chancery Division and the Commercial Court, London. This receivership procedure is vital to protect the assets of the Libyan people and serve the best interests of their sovereign wealth fund.
In the spirit of transparency, we have written to the US envoy, Mr Winer, and informed him of the facts to ensure that there is no confusion created as to the work and activities of the LIA.
The Chairman of the Board of Directors of the LIA, Hassan Bouhadi, draws his authority from the governance structure set out in the Libyan Constitutional Law No 13, and the clear and consistent position of the international community towards the House of Representatives.
I am aware that the opinion editorials published by Libya Herald do not necessarily reflect the views of the publication, however it is important that your readers remain confident that the LIA Board of Directors will continue to act in the best interests of the people of Libya, and we appreciate your support in preserving the integrity of the authority and governance structure of the LIA .
LIA Communications, Government Relations and Media Team
Op-Eds and Opinion articles do not necessarily reflect the views of the Libya Herald [/restrict]
