Tag Archives | Law

Clyde & Co Closes Libya Office

By John Lee. International law firm Clyde & Co has reportedly closed its office in Libya. According to Legal Week, the firm, which became the first international law firm to open in the country when it opened there in August 2012, made the decision in April amid mounting political instability. Between eight and 10 staff […]

Arrest of Ships in Accordance with Libyan Law

By Dr. Mohamed Karbal,  Managing Partner at Karbal & Co. Despite the current security problems, the Libyan government due to its efforts to rebuild the New Libya, has situated the nation at the apex of a widely-anticipated economic boom of development in all sectors. Prior to the revolution of 2011, Libya’s exports reached $30 billion […]

Libyan Construction Law: Contractor’s Liabilities

By Dr. Mohamed Karbal,  Managing Partner at Karbal & Co. Libyan Construction Law: Contractor’s Liabilities Prior to the upheaval of the February 2011 revolution, Libya was already contending with various economic problems. Forty years of the Gaddafi regime's irrational strategic planning and an apathetic mindset left Libya among the least developed countries. Hospitals taking 30 […]

Some Foreign JVs Get Temporary Reprieve from New Law

Foreign joint venture companies that were registered before Decree 207 of 2012, which compelled the reduction of their equity holding to a maximum of 49 percent by this month, have been given a temoorary reprieve. Libya Herald reports that under the Ministry of the Economy's Decree 22, an extension has been granted for JVs that […]

Libya amending bank law to attract foreigners

Libya is amending its banking laws to attract foreign investment and stimulate its private sector as it seeks to create an investor-friendly environment following last year's war that ousted Muammar Gaddafi, the central bank governor said. In an interview with Reuters, Saddeq Omar Elkaber said the new Libyan leadership was working on creating the legal […]

UAE construction firms look before leaping into Libya

UAE construction companies will wait until a new government fills the legal vacuum in war-torn Libya before jumping on the bandwagon of rebuilding. Worries about uncertain investment laws, local partnerships, corporate governance and the fate of business deals made with the former regime are forcing construction companies to take a more cautious approach to the […]