The Libyan Investment Authority (LIA) has announced a significant legal victory following a ruling by the Brussels Court of Appeal on 21 January 2025. The court ordered the lifting of all judicial seizures on LIA’s funds held at Euroclear Bank in Brussels. This decision means that no judicial freezes remain on LIA’s assets in Belgium.
The judicial seizures were initially imposed in October 2017 by a Belgian investigative judge. Over the years, LIA implemented a legal strategy to protect its assets, filing multiple objections in Belgian courts. These efforts culminated in the acceptance of LIA’s appeal, restoring control over the funds. However, the assets remain subject to UN-imposed international asset freeze measures dating back to 2011.
This legal breakthrough aligns with UN Security Council Resolution 2769 (2025), which permits LIA to reinvest its frozen reserves. The resolution aims to protect the assets from erosion, maximise their market value, and ensure continued growth while keeping them under international freeze orders.
The LIA expressed gratitude to Prime Minister Abdel-Hamid Dbaiba for his dedicated support as Chairman of the LIA Board of Trustees. It also thanked Libya’s Attorney General and its legal team for their pivotal roles in safeguarding the assets.
The LIA reaffirmed its commitment to protecting and managing Libya’s assets for the benefit of the Libyan people, ensuring the country’s wealth is preserved for future generations.
