arbitration / adr news
British Court of Appeal working on implementing ordr obligates Libya to pay 16 million pounds 12 March 2022
British Court of Appeal decided on Friday to continue proceedings to implement executive order against Libya, which requires it to pay an amount of 16 million pounds to the aerospace and defense company General Dynamics. General Dynamics signed a contract with Libya to supply communications systems, but Libya did not comply with it. The parties referred the dispute to the International Criminal Court in Geneva. The International Criminal Court of Arbitration issued a decree in favor of the British company to get the amount of 16 million pounds. Libya did not pay the amount nor submit any proposal, so the court concluded that Tripoli did not intend to fulfill the obligation. Since that time, General Dynamics has worked through the British judiciary to enforce the arbitral award, but last year Libya submitted a request to cancel parts of the documents by dispensing with service, based on a defect in the reporting procedures, which required that any assets held by Libya in the jurisdiction should not be used to fulfill the arbitration award. Source: The Libya Update |
