French court rules on Kadhafi's plane

Image
AFP Perpignan (France)
Last Updated : Dec 01 2015 | 5:13 AM IST
A French court has lifted a freeze order on slain Libyan strongman Moamer Kadhafi's personal plane, following a bitter battle over the luxury aircraft between a Kuwaiti conglomerate and the Libyan government.
Kuwait's Al-Kharafi group had the Airbus A340, seen as a symbol of Kadhafi's extravagance by the rebels who overthrew him, seized amid a near billion-euro debt related to a contract to build a beach resort in Libya.
The plane has been in the southern French city of Perpignan since 2012, soon after Kadhafi's regime fell, where it had been sent for three million euros' worth of maintenance work by Air France -- as yet unpaid.
"It is very satisfying to see the judge has recognised the fact this plane, which belongs to the Libyan state, has immunity from being seized," said Carole Sportes, lawyer for the Libyan side yesterday.
In 2006 Al-Kharafi signed a contract with the Kadhafi regime to build a beach resort on Libya's Mediterranean coast, which it was to run for 90 years, but Tripoli cancelled the deal unilaterally in 2010.
A Cairo court in 2013 ruled Al-Kharafi was owed 935 million euros over the broken contract and the company had the plane seized as part of efforts to recover the money.
Since Kadhafi was killed in oil-rich Libya's 2011 uprising, the country has slid into chaos, with the Islamic State group making inroads.
Libya has had two administrations since August 2014, when a militia alliance overran the capital and set up its own parliament in Tripoli while forcing the internationally recognised government to take refuge in Tobruk, in the east.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 01 2015 | 5:13 AM IST

Next Story