TRIPOLI, May 24 (Xinhua) -- A Libyan official said Wednesday that the ex-justice minister of the eastern-based interim government has obligated the state to pay 455 million euros (532 million U.S. dollars) in compensation to a foreign company.
"The settlement document signed by the minister more than two years ago with a French company confirms the company's compensation of 455 million euros and reduces the amount to 230 million euros in the event of payment within 45 days," Abdalbaset Jarbou, head of the advisory board of the Libyan Audit Bureau, told Xinhua.
The Libyan Audit Bureau said foreign companies abroad have filed 142 lawsuits against Libya since 2011, demanding compensation of 9 billion euros (10.5 billion dollars).
Jarbou said that Libya is "obligated under the settlement document to pay the amount," adding that attempts are being made to "provide documents to help us cancel the compensation" in cooperation with the lawsuits department.
A French company was carrying out a construction project in southern Libya 40 years ago. As a result of disagreements, the company left without receiving financial compensation.
After lengthy judicial battles, the company managed to persuade Al-Mabruk Egrera, the former justice minister of the eastern-based interim government, in March 2016 to sign a 455-million-euro compensation document for the company.
The Audit Bureau is counting on the opportunity to invalidate the document, since the interim government is not internationally recognized, and therefore not authorized to conclude any agreements with financial obligations on behalf of the Libyan state.
Libya is politically divided between authorities in the east and the west despite signing a UN-sponsored peace agreement and the appointment of the internationally recognized Government of National Accord in 2015.
