Latest development Oct 1, 2026
The Cour de cassation refused to reinstate the Société Générale attachment.
The award
- Amount awarded
- About $936.9M (including $900M in lost profits) plus 4% interest
- Award holder
- Mohamed Abdulmohsen Al-Kharafi & Sons Company (Kuwait)
- Respondent
- State of Libya (the Libyan Investment Authority pursued as an emanation)
- Forum
- Ad hoc · Unified Agreement for the Investment of Arab Capital · seat Cairo
Challenges
The Cairo Court of Appeal annulled the award on June 3, 2020. The Egyptian Court of Cassation reversed on June 24, 2021, so the award stands. A Benghazi court declared the award void in Libya and ordered the claimant to pay about $2.3B on August 25, 2026.
Enforcement
France: attachments over Libyan Investment Authority assets (2013 and 2016) were lifted. The Cour de cassation held on September 7, 2022 that no Treasury authorization had been obtained, applied the same rule on February 5, 2026, and on October 1, 2026 refused to reinstate a Société Générale attachment because the LIA must be notified separately.
Recovered to date
None reported