Libya regrets Egyptian court US$ 1 billion Kharafi new ruling

By Sami Zaptia.

London, 30 June 2021:

Confirming the circulating news over the last few days of the Egyptian court ruling, the Foreign Cases Department of the Libyan Supreme Judicial Council said on Monday it regrets the issuance of the Egyptian Court of Cassation in its session on 24 June 2021 its ruling in the appeal filed by the Kuwaiti Al-Kharafi Company to overturn the ruling of the Cairo Court of Appeal.

That ruling had invalidated the arbitration ruling obtained by Al-Kharafi obligating the Libyan state to pay it an amount estimated at one billion US dollars with interests and expenses despite, it added, the strength of the reasons on which the appealed judgment was based and the fairness of its legal foundations.

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