The SA Euroclear does not have the quality required to request the release in the folder of the funds in the libyan

The indictments chamber has confirmed on Thursday the order company in the folder of the funds of libyans by holding that Euroclear does not have the quality re

The SA Euroclear does not have the quality required to request the release in the folder of the funds in the libyan

The indictments chamber has confirmed on Thursday the order company in the folder of the funds of libyans by holding that Euroclear does not have the quality required to request the release of the seizure. The court also decided that the sums of money seized will remain blocked in Euroclear and should therefore not be transferred to the central body for seizure and confiscation (OCSC).

The investigating judge Michel Claise had proceeded, on October 23, 2017, to the seizure of 15 billion euros of funds the libyans, frozen, Euroclear Bank due to international sanctions against the regime of ex-head of State of libya Muammar Gaddafi. It was part of an investigation that began in 2015, after a complaint with constitution of civil party filed by Me Pierre Legros against the State of libya, money laundering and breach of trust. The lawyer intended to enforce the judgment of the court of appeal of Brussels, dating back to November 2014, which ordered Libya to compensate its client, a Global Sustainable Development Trust (GSDT), the old VZW of prince Laurent, at the height of € 50 million for unilateral breach of contract.

Date Of Update: 12 June 2020, 02:35

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