Arbitral Digest

Matter

[M] [F] [R] [T] and Sons v Libyan Investment Authority (Court of Cassation X 23-15.936)

  1. 5 February 2026France

    5 February 2026France

    Judgment of the Court of Cassation, Second Civil Chamber in the case X 23-15.936 dated 5 February 2026

    Court of Cassation, Second Civil Chamber

    Decision summary
    The Court of Cassation rejected the appeal and held that, without prior authorization from France's competent national authority, no attachment of funds or economic resources frozen under Regulation (EU) No 2016/44 may be authorized or validated, including an attachment conferring a preferential right on the creditor. It awarded costs against [M] [F] [R] [T] and Sons and ordered it to pay the Libyan Investment Authority EUR 3,000 under Article 700 of the French Code of Civil Procedure.

    Supporting details

    4 authorities · 8 participants
    [M] [F] [R] [T] and Sons
    Representative
    SCP Alain Bénabent (For: [M] [F] [R] [T] and Sons)
    Libyan Investment Authority
    Representative
    SARL Delvolvé and Trichet (For: Libyan Investment Authority)
    Court of Cassation, Second Civil Chamber
    Judge
    Chevet
    Advocate General
    Adida-Canac

    Authorities cited

    4
    • Regulation (EU) No 2016/44 (Council Regulation (EU) No 2016/44 of 18 January 2016 concerning restrictive measures in view of the situation in Libya and repealing Regulation (EU) No 204/2011, Articles 1, 5(4), and 11(2))
      regulation
    • French Code of Civil Enforcement Procedures, Article L. 111-1-1
      statute
    • French Code of Civil Procedure, Articles 1014(2) and 700
      statute
    • Sapin II Law (Law No. 2016-1691 of 9 December 2016)
      statute
  2. Date not availableArbitration

    Date not availableArbitration

    Arbitral award against the State of Libya

    Decision summary
    The award was rendered in favor of [M] [K] [T] and Sons against the State of Libya and was granted exequatur in France.

    Supporting details

    2 participants
    [M] [K] [T] and Sons
    State of Libya

Matter record

Report a correction

[M] [F] [R] [T] and Sons v Libyan Investment Authority (Court of Cassation X 23-15.936) · Matter