Libyan Foreign Bank wins lawsuit against Tunisian firm

Libyan Foreign Bank (LFB)

The Libyan Foreign Bank (LFB) has won a lawsuit against a Tunisian company at the Tunisian Court of Appeals in a verdict delivered last Wednesday. 

The Tunisian petroleum products filed a lawsuit against the LFB for $200 million in debt, however; the Tunisian court dropped those claims and ruled for the LFB.

The Tunisian company filed a lawsuit against the LFB at the Tunisian Court of First Instance, alleging unpaid debt of about $200 million, thus starting a legal process against the LFB.

The LFB said in a statement at the time that the Tunisian court issued an emergency ruling freezing the bank’s funds in Tunisia.

However, the LFB appealed against the ruling at the Tunis Court of Appeals, which dropped the lawsuit of the Tunisian company and also imposed a fine against it for the false claim.

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