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LARMO discusses the recovery of Libyan assets with a British delegation
 
Libyan Asset Recovery and Management Office (LARMO) discussed the mechanisms to accelerate Libyan assets recovery operations with a British delegation during a visit that lasted for two consecutive days. The delegation included was headed by Mr. Stephen Kay Kings Council, and a number of legal and financial experts including Mr. George Busby CMG, OBE, Mr. Scott Alexander, and Mr. Adam Natan.
 
The delegation met with LARMO team headed by director general Dr. Muhammad Ramadan Mensli, where the general strategy of the office and its work mechanisms were presented. Mr. Stephen Kay expressed his appreciation for the efforts of the office and its work and praised the great progress that has been achieved in managing this complicated file and approaching the recovery of some important assets. He also confirmed the delegation’s support and conviction of the effectiveness and feasibility of the phased recovery strategy.
 
The delegation added its voice to several local and international economic, legal, and political experts in praising the interim recovery strategy implemented by the office. The strategy includes the creation of a sovereign fund through which all Libyan assets are collected abroad and will be managed under absolute Libyan sovereignty with international support. The fund will be completely transparent and will finance well-defined projects in the areas of spatial and sustainable development.
 
This strategy constitutes a compelling argument and a solid wall of defence for the rights of the Libyan state to restore the rights of its people and to ward off the pretexts and claims of some countries hosting Libyan funds that Libya is unable to receive these funds.
 
During this visit, a discussion was also held of the first international conference to recover the Libyan funds, which the office intends to hold at the end of the first quarter of this year, which will have a major role in shedding light on the progress of the process of recovering the funds of the Libyan people.
 
The visit also included discussions about the first international conference for the recovery of Libyan assets and funds, which the office intends to hold by the end of the first quarter. The conference will hopefully play a major role in shedding light on the work and progress made by LARMO and its effort to recover the assets and funds of the Libyan people.