Clydes prepares for Tripoli launch with hire of Libyan Investment Authority GC

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  • Probably only doing this to help unravel the mess that is BLG's old building at Beaufort House which is owned by the Libyans. All the major contracts there have gone to the Yanks and the Frogs anyway, so not sure what Clyde hopes to get.

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  • Talk about ambulance chasing.

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  • Personally, I think this is a shrewd move by Clydes, they will do well in Libya. Also, congratulations to Creedy - looks like the move is working out well for him, which is good news for a good guy!

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  • The Libyan Commercial Law bans foreign law firms from opening branches or rep offices. They are only allowed to enter the Libyan market by cooperation with a local law firm and I think this is what has happened. As far as I know the Clydes have been operating in Libya for many years.

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  • Clydes were rewarded a licence late Wednesday night, the link comes via Creed who has done plenty of work in Libya before, as has Clydes.

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  • The Libyans law is very clear and current government and NTC have not legitimately at awarding any licence. We all know that what a transitional government decides can be overturn by a proper one. I am very sure that Libyan-based lawyers will seek a legal action against the move.
    As far as I know that many major international law firms are very much interested to enter the Libyan market but they are only allowed through a cooperation with Libyan law firms.

    Only time will tell.

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