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By Sami Zaptia.
London, 3 August 2021:
Libya has successfully defended a US$ 165 million arbitration compensation claim against Indian construction company Simplex, the Foreign Cases Management Department of the Supreme Judicial Council announced yesterday.
The case was filed by Simplex in Paris in 2018 claiming that Libya had violated the provisions of the bilateral treaty encouraging and protecting investments signed between Libya and India in 2009.
Simplex had signed a contract in 2008-2009 to implement 4,000 housing units in its facilities in Girat al-Shati and Wadi al-Mjaneen regions. In meeting the costs of arbitration with obligating the expenses.
The Libyan side reported that the arbitral tribunal issued on 23 July 2021 its decision to end the arbitration procedures due to the Indian company failure to meet the arbitration costs. It also obliged Simplex to pay the procedures’ expenses.
The Foreign Cases Department said this ruling reinforces the important role it plays in the field of foreign disputes with the efforts of its loyal members, and adds a new gain to the Libyan state in this regard, which it added, requires its support by all means that enable it to continue its role in defending public funds and caring for the public interest.
