Swiss Court Seizes Libyan Property Over Unpaid Debt

Switzerland's Federal Supreme Court has rejected an appeal filed by the Libyan state seeking to annul an arbitral award issued in March 2017 in favor of Tunisian businessman Sami Jallouli, which orders Libya to pay approximately 20 million Swiss francs.

The court explained that Libya's appeal was procedurally inadmissible because it was submitted outside the legally prescribed time limits. The court confirmed that the Libyan authorities had been aware of the award since May 2017, yet failed to notify the arbitral tribunal of any objection regarding the method of notification or the procedures applied at the time.

Libya had requested the annulment or invalidation of the award on the grounds that notification had not been carried out in accordance with the rules set out in domestic law, and that the legal deadline for appeal had therefore not yet begun.

As a result of the ruling, Swiss authorities have seized a Libyan guesthouse in Geneva to enforce the payment of the debt owed to Jallouli. This development highlights the ongoing legal and financial challenges faced by Libya in international jurisdictions.