The Libyan Investment Authority (LIA) has monitored reports circulating on social media and in various news outlets, citing an anonymous source, regarding the issuance of a judgment in absentia in a case involving the Chairman of the Board and Chief Executive Officer in his official capacity. In this regard, the LIA confirms that it has not been notified of the ruling circulated in the media, nor has it received any judicial notices or communications indicating that a case is pending before the Libyan judiciary concerning this matter, despite the fact that the LIA is a legal entity with publicly known headquarters and official addresses.
While the LIA affirms its full respect for the Libyan judiciary, its unwavering commitment to the rule of law, and its adherence to the established legal channels for challenging judicial rulings, it deems it necessary to clarify the background of the matter being circulated. This statement is not intended to comment on judicial rulings, but rather to prevent any attempt to harm the LIA both nationally and internationally, including before relevant international financial institutions.
In this regard, the LIA clarifies that Mr. Mohsen Derregia was appointed Chairman of the Board of the LIA in 2012 and was relieved of his duties one year later. He received all his financial entitlements, as documented in the handover minutes prepared in accordance with the established procedures. Despite this, Mr. Derregia has persistently filed several lawsuits against the LIA over the past years, some of which have been dismissed, while others remain pending before the courts. By way of illustration, the LIA refers to a number of these cases to show the pattern of litigation pursued against it over several years:
• The case filed by him before the Misrata Court of Appeal against the LIA, in which he sought compensation in the amount of fifteen million Libyan dinars. The court ruled in his favour; however, the LIA has appealed that ruling before the Supreme Court on grounds relating to the validity of the judgment, including the fact that one member of the judicial panel declined to sign the ruling.
• The case filed by the LIA before the Tripoli Court of Appeal against Mr. Derriga, concerning his lack of entitlement under Libyan law to the relief sought in the lawsuits he filed. The LIA’s position is supported by several decisions issued after the resolution relieving him of his duties, pursuant to which successive boards of directors were appointed for the LIA. That resolution has since become final, as it was never challenged before the courts. In addition, his foreign nationality, as a matter of principle, is inconsistent with the requirements for holding this position.
In conclusion, the Libyan Investment Authority reaffirms its commitment to transparency and its full respect for national and international judicial institutions. It categorically rejects any attempt to misrepresent or interpret judicial rulings outside their proper legal framework or to prejudice its reputation. It reiterates its steadfast and enduring commitment to protecting its assets for the benefit of the Libyan people.

Libyan Investment Authority
Date of issue: 24/04/2026