By Sami Zaptia:
London, 25 February 2018:
The Tripoli-based Libyan Audit Bureau has reported that the Libyan state and its Housing and Infrastructure Board (HIB) have successfully defended a case brought against them at the International Chamber of Commerce’s International Court of Arbitration in Paris.
Libya was defending a compensation claim case brought against it by the Libyan Brazilian Construction and Development Company and Oderbrecht for about US$ 99 million (LD 129 m).
It will be recalled – and as reported on by Libya Herald at the time – that the case had been flagged up by the Audit Bureau in its 2015 Annual Report (pages 99-104) which had called on the Libyan authorities to appeal a compensation settlement which it viewed with suspicion. It had pointed out possible corruption and foul play in the matter.