Libya’s Overseas Disputes Department of the Supreme Judicial Council announced that the Paris Court of Appeal ruled at the 19 December 2023 session in favour of the Libyan state in its arbitration case against Turkish construction company Guris (Güriş) in its compensation claim.
The ruling invalidates the lawsuit filed by Guris in appeal against the arbitration ruling issued on 23 November 2021 which had ruled to reject the Turkish company’s entire requests, which amounted to the value of over 190 million euros.
This final ruling obliges Guris to pay legal fees amounting to 1.4 million euros and pay legal expenses to the State of Libya amounting to 20 thousand euros.
Bilateral treaty protecting and encouraging investments between Libya and Turkey
Guris had made a claim against the Libyan state and the state-implementing entity, the Organisation for the Development of Administrative Centres (ODAC), before the International Chamber of Commerce in Paris in 2016, by virtue of the bilateral treaty protecting and encouraging investments between Libya and Turkey.
Guris was claiming due to its inability to complete its Tripoli public park and the construction of buildings at the University of Tripoli due to the onset of the February 17, 2011, revolution.
All the Turkish company’s claims were rejected.