Intelligence

Following the decision of Rose J on 8 June 2015 setting aside a statutory demand served on Mr Maud, the Libyan Investment Authority appealed to the Court of Appeal.

On 15 January 2013, the Libyan Ministry of Economy issued Decree No 22 of 2013 amending Decree No. 207 of 2012 in regards to foreign shareholding percentages.

This is the second of four articles Clyde & Co aims to publish on the legal and regulatory framework affecting the oil and gas industry in Libya.

The documentary letter of credit ("LC") is a key payment method in international trade - not only does it satisfy both the seller's and the buyer's conflicting needs, but it also is considered to be relatively risk free.

On September 19, 2011, the Office of Foreign Assets Control, US Department of the Treasury (OFAC), issued two new general licenses to the Libyan Sanctions Regulations (LSR), 31 C.F.R. 570.

On July 1, 2011, the Treasury Department’s Office of Foreign Assets Control ("OFAC") published a final rule imposing sanctions against Libya. New Part 570 to Title 31 of the Code of Federal Regulations, entitled the "Libyan Sanctions Regulations".