2023-07-07 16:47:31
The Brussels indictment chamber confirmed, in a judgment delivered on Friday, the international arrest warrant issued by the Belgian judicial authorities against Ali Mahmoud Hassan, the president of the Libyan Investment Authority (LIA), indicated Me Laurent Arnauts, the lawyer of prince Laurent. The betting chamber also confirmed the criminal seizure, which had been made by the examining magistrate Michel Claise, of an amount of 15 billion euros on the LIA accounts.
The Libyan sovereign wealth fund and Prince Laurent of Belgium have been engaged in a legal dispute for several years. The King’s brother is claiming compensation after the unilateral breach of a contract between his former ASBL, Global Sustainable Development Trust (GSDT), and Libya, for reforestation work in the Libyan desert.
Since the end of 2014, relying on a decision of the Belgian justice in his favor, the prince seeks to recover several tens of millions of euros which are due to him.
Thus, in October 2017, the examining magistrate Michel Claise carried out a criminal seizure of an amount of 15 billion euros belonging to the LIA in the Euroclear bank, installed in Brussels. The money was frozen there due to international UN sanctions against the regime of former Libyan head of state Muammar Gaddafi. Nevertheless, in 2012, the LIA managed to obtain the release of two billion euros.
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