Zambia Risks Asset Attachments as It Owes Libya $400 Million [Bloomberg Business News]
Nomura Holdings Inc ADR American Depositary Shares (NMR)
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Source: Bloomberg Business News
By Matthew Hill and Taonga Clifford Mitimingi More stories by Taonga Clifford Mitimingi Debt to LAP GreenN stems from 2012 nationalization of Zamtel LAP GreenN won consent order in Zambia High Court in 2016 Libyan telecommunications company LAP GreenN is considering chasing after Zambia’s offshore assets after the southern African country defaulted four times on an order to pay $257 million in compensation for nationalizing a firm it invested in. Zambia owes state-owned LAP GreenN more than $400 million including interest, and has defaulted on payments totaling about $220 million following a 2016 judgment in the nation’s high court, according to the Libyan Post, Telecommunication and IT Holding Co. which owns LAP GreenN. The company has “patiently” sought an amicable resolution, while Zambia has avoided and delayed paying, LPTIC Chairman Faisel Gergab said in a
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- 3/27/24 - Form 13F-HR/A
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