The Libyan Investment Authority (LIA) claimed on Monday that the Supreme Court in Britain, the highest court in the United Kingdom, issued a final ruling concerning the legitimacy of the current board of directors of LIA and the recognition of Ali Mahmoud Hassan as its legal Director, after rejecting an application for leave to appeal against the Appeal Court’s judgement.
Commenting on the ruling, Chairman of the Board of Directors Ali Mahmoud said: “the end of the legitimacy issue as well as its administrative and legal repercussions will bring greater opportunities to advance in the accomplishment of transformation and governance projects.
It will be reminded that LIA reaffirmed it would continue on with its strategy to protect its assets, the independence of its legal personality, and interests away from the Libyan government, confirming its full commitment to the sanctions imposed by the Security Council.