Libyan Investment Authority faces winding up petition

The LIA (Libyan Investment Authority), a Libyan government organization established on August 28, 2006, purportedly as a sovereign wealth fund is facing a winding up petition at the UK Companies Court in London on 21 May 2012.

The Financial Times reported in September 2011 that an “audit of the LIA by professional services firm KPMG in May 2010, a copy of which has been ob­tained by the FT, depicts an institution in deep disarray and unable to manage its ambitious investment strategy.”

The LIA is registered at Tripoli Tower, 22nd Floor, Borgaida Street, PO Box 93099, Tarabulus, Tripoli, Libya, and the petition was presented on 28 March 2012 by Nathan Capital Management Ltd, Finchley House, 707 High Road, North Finchley, London N12 0BT.

The petition will be heard at Royal Courts of Justice, 7 Rolls Building, Fetter Lane, London EC4A 1NL, on 21 May 2012 in the winding up list.

Our Winding-Up Experts are able to give specialist legal information and advice in this area of law. To contact one of our Solicitors or Barristers for a free initial consultation please click here or call 0845 8622 529.

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