French court to lift the freezing of $ 100 million for the Central Bank

The Court of Nanterre in France has ruled in favor of the Central Bank of Libya to lift the freezing imposed by the Kuwaiti company Kharafi on the amount of $ 100 million for the Central Bank.

The Central Bank of Libya said on its official page on Wednesday that the ruling issued by the court on the 28th of last November invalidates the Kuwaiti company Al-Kharafi’s decision to detain the funds of the Central Bank of Libya at Credit Agricole Bank, noting that the decision reached obliged the Kuwaiti company to pay for expenses and to immediately implement the ruling.

The Central Bank filed a lawsuit on April 11 last year against the Kuwaiti company Kharafi, explaining that the company took advantage of the political and institutional division in the Libyan state and issued a ruling in its favor.

Kuwait’s Al-Kharafi has relied on a ruling issued in March 2013 by an arbitration tribunal in Cairo for Al-Kharafi against the Libyan government for $ 1 billion, according to the Central Bank.

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