Tag Archives | Libyan African Investment Portfolio

FMCP wins Libyan Fraud Case

By John Lee. London-based asset manager FM Capital Partners (FMCP), has reportedly won a court case against its former CEO over allegations of fraud and corruption relating to a Libyan sovereign wealth fund. Earlier this year, London’s Commercial Court heard evidence alleging that Frederic Marino and former Julius Baer banker Yoshiki Ohmura conspired to improperly […]

Ahmed Kashadah, MD of LAP, Passes Away

By John Lee. The Managing Director of the Libyan African Investment Portfolio (LAP/LAIP) has reportedly passed away in a hospital in Malta after a long struggle with illness. Ahmed Kashadah (pictured) became managing director of the foreign investment fund in September 2011. More on Ahmed Kashadah's life and career here. (Source: Libya Herald)

LAIP wins Court Appeal against CMS

By John Lee. The Libya Africa Investment Portfolio (LAP/LAIP) hs announced that it had won its legal battle against Dubai-based Catalyst Managerial Services (CMS). A London court had previously awarded $15.4 million in damages to CMS for alleged unpaid invoices and wrongful termination of its contract with LAIP prior to the revolution. But following an appeal […]

LAP GreenN’s Fall from Grace was Utterly Avoidable

From Sami Redwan.  Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. The telecoms provider LAP GreenN’s fall from grace has been nothing short of spectacular. Established in 2007 with a total investment capital of over US$1 billion, LAP GreenN is wholly owned by the […]

CMS Hits Back at LAP-Malta Claims

In a strongly-worded statement, Dubai-based Catalyst Managerial Services (CMS) has hit back at what it says are "false and misleading" claims from the Malta-based leadership of the Libyan African Investment Portfolio (LAP). The company says that, contrary to a statement issued by LAP in relation to the ongoing court battle in London, no permission to appeal […]

LAP’s Appeal Against CMS Moves Forward

The Malta-based leadership of the Libyan African Investment Portfolio (LAP), issued a statement on Friday regarding the ongoing legal dispute between the company and the Dubai-based Catalyst Managerial Services (CMS): "With the case recently transferred to the Commercial Court at LAP’s request, The Honourable Mr Justice Males, sitting in the High Court in London, has […]

LAP in $15m Payment Default

The Libya Africa Investment Portfolio (LAP) has reportedly defaulted on the UK High Court Order in relation to the ongoing Catalyst Managerial Services (CMS) case against LAP involving damages of over US$500 million. On Wednesday 9th September, 2015, the High Court of England & Wales rejected LAP’s further application for a stay and ordered LAP […]

LAP-Tripoli Hits at "Poorly Managed" LAP GreenN

The Tripoli-based leadership of the Libyan African Investment Portfolio (LAP), which owns LAP GreenN, said in a statement on Monday that it was "unable to continue to fund a poorly managed LAP GreenN." LAP CEO Mohsen Derregia, said: “LAP GreenN received US$ 208 million from LAP between November 2011, when Ahmed Kashadah and Wafiq Shater […]