. It was established on August 28, 2006, by Decree 208 of the
. LIA is a
that oversees and manages government investment funds in various areas including agriculture, real estate, infrastructure, oil and gas and in shares and bonds. The Libyan Investment Authority is considered to be a
, the LIA’s management includes some of Libya’s most established banking personalities. LIA consists of an 11-member board of
surplus. The LIA now counts the assets of the
, founded in 1988, in its portfolio. The LIA now controls an estimated $70 billion in
(BP) signed a $900 million exploration and production agreement with the Libyan
. The agreement, which will likely involve an estimated USD $2 billion in investment, covers three massive, largely unexplored tracts. The NOC signed the agreement with the LIA as BP’s 15% partner in a production sharing agreement (PSA).
The LIA also manages the Economic and Social Development Fund (ESDF). Established in February 2006, the ESDF manages substantial assets in Libya across a number of sectors to benefit Libya’s poor. The LIA’s share in BP’s PSA provides a direct conduit via which oil wealth can be recycled. However, some Libya experts believe that the presence of two state-owned companies in BP’s deal reflects divisions and tensions at the executive level in Libya, particularly over who controls the oil wealth.
joint investment fund for $2 billion equally with the Qatar Investment Corporation (QIC). Also, the
on July 2007 for establishment of a joint investment fund between QIC and LIA as well as establishment of the Libyan-Qatari Bank between QIC and the Central Bank of Libya. Also an agreement was signed concerning establishment of joint company for real estate development between Al-Diar real estate investment company (Qatar) and the Libyan Arab Foreign Investment Company.
, which needed additional funds to maintain solvability. LIA would not confirm the investment, since they are not required by Dutch or Belgian law to do so. However, later that week, the Dutch Minister of Finance
admitted that the situation 'had his attention, as well as that of the Dutch Central Bank', considering previous Libyan involvement in international
.
Moussa Koussa, the Libyan foreign minister who defected from Colonel Muammar Gaddafi's regime, was one of the architects of its rehabilitation in the international community but a deeply controversial figure who is likely to pose David Cameron a particularly thorny political problem.
Moussa Koussa reads a statement to foreign journalists at a hotel in Tripoli Photo: APBy Andy Bloxham and Damien McElroy 11:57PM BST 30 Mar 2011
As the highest-profile defection from the ranks of Col Gaddafi's loyalists, he is a plum prize who is likely to be of great value in helping to dismantle his dictatorship.
The former spy chief's resignation also comes at a critical time in the coalition's attempts to dislodge Col Gaddafi, as the rebels are retreating under fresh onslaughts and Whitehall sources suggested they were unlikely to win without arms or training from outside.
So his information and contacts among Col Gaddafi's generals will be all the more valuable.
However, the former head of Libya's external intelligence, was the mastermind accused of planning the Lockerbie bombing and any attempts to rehabilitate him are likely to be an exceedingly hot potato.
Mr Koussa has been a close confidant of Col Gaddafi's for 30 years and helped secure the release of the Lockerbie bomber Abdelbaset Ali Mohmed al-Megrahi.
He was expelled from London in 1980 after giving an extraordinary newspaper interview when he was the head of the embassy in which he said two Libyan dissidents living in London would be killed.
Speaking outside the Libyan embassy in St James’s Square, Mr Koussa told The Times: “The revolutionary committees have decided last night to kill two more people in the United Kingdom. I approve of this."
He returned to Libya after being given 48 hours to leave the UK, where he was accused of funding terrorist groups.
Mr Kousa was named by intelligence sources in the mid-1990s as the possible architect of the 1988 bombing of Pan Am flight 103, which killed 270 people, and the blowing up the following year of a French airliner in central Africa in which 170 people died
Mr Koussa, who is now 61, travelled to Britain to meet British and Scottish government officials on at least two occasions as Mr Megrahi’s health deteriorated.
On October 27 last year, at the first meeting after Megrahi’s cancer diagnosis, Mr Koussa is listed as an interpreter. At the second meeting in January, he is given the then correct title of Minister of Security. In March he was promoted out of the shadows to foreign minister.
As protests against Col Gaddafi's regime developed into rebellion in recent weeks, the diplomat with a shock of silver hair became more public than ever.
Yet for all his insider status, Mr Koussa has at times given an air of being on the edge of the Gaddafi circle.
According to a leaked US embassy cable, he privately expressed exasperation with one of the Colonel's sons, Mutassim, who he was training in international diplomacy.
Late last year, unconfirmed rumours were circulating in Tripoli that another of Gaddafi's sons had had an argument with Mr Koussa and punched him in the face in front of several other people.
At an international summit in Tripoli in December, he was to be seen alone and smoking heavily in the public areas of the summit venue while Gaddafi's intimates were cloistered in a private room.
I am posting the text of another link and will try and get the link back here but will post the text anyways.
This alert updates our 1 March alert describing new sanctions against Libya, reflecting recent developments with respect to exp
anded measures imposed by
the European Union (EU)
and additional general licenses
and new designations issued by
the U.S. Government. Specifically, on 11 March
the EU has extended
the asset freeze provisions of its sanctions regime to five Libyan entities, including
the Libyan Investment Authority
and the Central Bank of Libya,
and one individual. This follows EU-wide freezing of assets "owned or controlled" by certain key persons associated with
the Libyan regime only one week earlier.
In light of
the recent events in Libya,
the UN Security Council
and various governments including
the United States,
and the EU have imposed new sanctions on Libya.
The following advisory describes
the current EU, U.S.
and UN sanctions. A number of
these provisions are very broad in scope.
EU Sanctions
The EU has adopted a sanctions regime on Libya.
The measures consist of (1) an arms embargo
and a ban on import
and export of items used for internal repression, including a ban on related financial
and technical assistance, (2) a freeze of assets,
and a visa ban, on 27 individuals designated at
the UN
and EU level, as well as 5 entities,
and (3) certain transportation restrictions, such as extended pre-arrival
and pre-departure notice requirements for goods shipped to
and from Libya,
and a EU Member State duty to inspect all cargo travelling to or from Libya, if reasonable grounds exist to suspect that sanctions are being violated.
The freezing of assets (funds
and economic resources) of Libyan nationals
and entities (specifically, (1) Libyan Investment Authority a.k.a. Libyan Arab Foreign Investment Company, (2) Central Bank of Libya, (3) Libya Africa Investment Portfolio, (4) Libyan Foreign Bank,
and (5) Libyan Housing
and Infrastructure Board will prevent anyone, including
these entities, as well as any persons subject to EU jurisdiction, from any use or dealing in such assets. Business with listed entities
and nationals is practically impossible (as no funds or economic resources may be made available to
them). Major practical problems may arise for entities subject to EU jurisdiction in which such Libyan entities or nationals have interests, as such interests should be frozen. In certain limited circumstances, EU Member States may authorize release of, or addition to, frozen assets.
The measures, although immediately directly applicable in all 27 EU Member States, will most likely be accompanied by local regulations.
There may be some differences in local implementation of
these rules, in particular with respect to how assets belonging to entities "owned or controlled" by natural persons or entities that are listed should be treated. For example,
the notice announcing earlier UK sanctions warned that, because
the asset freeze was not limited to
the Gaddafi family's personal assets but also covered assets controlled by
them, financial institutions should "
bear in mind" that Colonel Gaddafi
and his family control
the Libyan state
and state enterprises "
in deciding how to conduct proper due diligence over any transactions involving Libyan state assets". Partially to resolve
the private parties' concerns over how
the asset freeze provisions should be implemented in practice,
the regulations protect from any liability natural
and legal persons,
their employees
and directors, for freezing of assets carried out in good faith as authorized by
the regulations.
Council Implementing Decision 2011/156/CFSP - 11 March 2011.pdf - 700.82 KB
Council Implementing Regulation 233/2011 - 11 March 2011.pdf - 701.55 KB
U.S. Sanctions
Effective Friday, 25 February at 8:00 pm President Obama issued an Executive Order (
EO) imposing sanctions on
the Government of Libya
and five members of
the Gaddafi family who have been designated as Specially Designated Nationals
and Blocked Persons (SDNs).
The new
EO does not prohibit exports of goods or services to Libya, or o
ther transactions with or involving Libyan companies, provided that
the transaction does not involve
the Government of Libya or entities owned or controlled by
the Libyan Government, or any of
the SDNs (in essence, this is not a territorial sanctions program at this stage). However, because
the U.S. sanctions apply to any entity owned or controlled by
the Government of Libya,
these new measures impose significant restrictions on dealings with Libyan entities. On 11 March
the U.S. Government designated nine additional individuals as Libyan SDNs (below is a complete list of all individuals currently designated under
the Libya
EO and a link to
the EO).
In summary:
- U.S. persons (including U.S. companies and their foreign branches, but not independent foreign subsidiaries) are prohibited from dealing with these SDNs of Libya and are required to block (freeze) any property or interests in property of these SDNs that are within the United States or within the possession or control of a U.S. person.
- The new sanctions also require U.S. persons to block the property and interests in property of the Government of Libya, its agencies, instrumentalities, and controlled entities, as well as the Central Bank of Libya (U.S. persons are prohibited from engaging in any transactions or dealings with respect to such property and interests in property)
- The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has simultaneously issued a General License 1 (which was subsequently amended and replaced by General License 1a), authorizing transactions with Libyan-owned or controlled banks that are organized in third countries. As a result, U.S. persons are not prohibited from dealing with such banks outside Libya, provided that the transaction does not otherwise involve the Government of Libya or any SDN of Libya.
- The new EO does not prohibit transactions for the conduct of the official business of the U.S. Government by its employees, grantees or contractors.
- Pursuant to the authority set forth in the EO, OFAC could designate additional senior officials of the Libyan Government (and/or additional children of Colonel Gaddafi) who are responsible for, or complicit in, the human rights abuses related to the current political repression in Libya.
- The EO also authorizes the Secretary of the Treasury, in consultation with the Secretary of State, to determine that circumstances in Libya no longer warrant the blocking of property pursuant to these new sanctions.
- OFAC has issued two additional General Licenses, authorizing the provision of goods and services in the United States to the diplomatic missions of the Libyan Government in the United States and the United Nations, as well as the provision of certain legal services to or on behalf of the Government of Libya, or its agencies, instrumentalities and controlled entities.
Treasury's FinCEN also issued an Advisory, reminding U.S. financial institutions of
the requirement to apply enhanced scrutiny for private banking accounts held by or on behalf of senior foreign political figures (below is a link to FinCEN's Advisory).
FinCEN Advisory 2.24.11.pdf - 28.42 KB
White House Executive Order 2.25.11.pdf - 13.4 KB
GADDAFI, Ayesha (a.k.a. AL-GADDAFI, Ayesha; a.k.a. AL-QADHAFI, Aisha; a.k.a. ELKADDAFI, Aisha; a.k.a. EL-QADDAFI, Aisha; a.k.a. GADDAFI, Ayesha; a.k.a. GADHAFI, Aisha; a.k.a. GHADAFFI, Aisha; a.k.a. GHATHAFI, Aisha; a.k.a. GHATHAFI, Aisha Muammer; a.k.a. QADDAFI, Aisha; a.k.a. QADHAFI, Aisha); DOB 1977; alt. DOB 1976 (individual) [LIBYA2]
GADDAFI, Mutassim (a.k.a. AL-GADDAFI, Mutassim; a.k.a. AL-QADHAFI, Mutassim; a.k.a. ELKADDAFI, Mutassim; a.k.a. EL-QADDAFI, Mutassim; a.k.a. GADDAFI, Mutassim; a.k.a. GADHAFI, Mutassim Billah; a.k.a. GHADAFFI, Mutassim; a.k.a. GHATHAFI, Mutassim; a.k.a. QADDAFI, Mutassim; a.k.a. QADHAFI, Mutassim); DOB 1975 (individual) [LIBYA2]
QADHAFI, Khamis (a.k.a. AL-GADDAFI, Khamis; a.k.a. AL-QADHAFI; a.k.a. AL-QADHAFI, Khamis; a.k.a. ELKADDAFI, Khamis; a.k.a. EL-QADDAFI, Khamis; a.k.a. GADDAFI, Khamis; a.k.a. GADHAFI, Khamis; a.k.a. GHADAFFI, Khamis; a.k.a. GHATHAFI, Khamis; a.k.a. QADDAFI, Khamis); DOB 1980 (individual) [LIBYA2]
QADHAFI, Muammar (a.k.a. AL-GADDAFI, Muammar; a.k.a. AL-QADHAFI, Muammar; a.k.a. AL-QADHAFI, Muammar Abu Minyar; a.k.a. ELKADDAFI, Muammar; a.k.a. EL-QADDAFI, Muammar; a.k.a. GADDAFI, Mu'ammar; a.k.a. GADDAFI, Muammar; a.k.a. GADHAFI, Muammar; a.k.a. GHADAFFI, Muammar Muhammad; a.k.a. GHATHAFI, Muammar; a.k.a. QADDAFI, Muammar); DOB 1942; POB Sirte, Libya (individual) [LIBYA2]
QADHAFI, Saif al-Islam (a.k.a. AL-GADDAFI, Saif al-Islam; a.k.a. AL-QADHAFI, Saif al-Islam; a.k.a. ELKADDAFI, Saif al-Islam; a.k.a. EL-QADDAFI, Seif al-Islam; a.k.a. GADDAFI, Saif al-Islam; a.k.a. GADHAFI, Saif al-Islam; a.k.a. GHADAFFI, Saif al-Islam; a.k.a. GHATHAFI, Saif al-Islam; a.k.a. QADDAFI, Saif al-Islam); DOB 25 Jun 1972; POB Tripoli, Libya (individual) [LIBYA2]
AL-SENUSSI, Abdullah (a.k.a. SENUSSI, Abdullah); DOB 1949; POB Sudan; Director of Military Intelligence; Colonel (individual) [LIBYA2]
DORDA, Abu Zaid (a.k.a. DORDA, Abouzid Omar; a.k.a. DORDA, Abu Zayd Umar; a.k.a. DORDA, Bu Zaid; a.k.a. DOURDA, Abu Zaid Omar; a.k.a. DURDA, Abu Zeid Omar); DOB 4 Apr 1944; Director of
the External Security Organization (individual) [LIBYA2]
FARKASH, Safia (a.k.a. FARKASH AL-BARASSI, Safia); DOB 1952; POB Al Bayda, Libya (individual) [LIBYA2]
GADDAFI, Hannibal (a.k.a. AL-GADDAFI, Hannibal; a.k.a. AL-QADHAFI, Hannibal; a.k.a. ELKADDAFI, Hannibal; a.k.a. EL-QADDAFI, Hannibal; a.k.a. GADDAFI, Hannibal Muammar; a.k.a. GHADAFFI, Hannibal; a.k.a. GHATHAFI, Hannibal; a.k.a. QADDAFI, Hannibal; a.k.a. QADHAFI, Hannibal Muammar); DOB 20 Sep 1975; alt. DOB 1977; POB Tripoli, Libya; Passport B/002210 (Libya) (individual) [LIBYA2]
GADDAFI, Muhammad (a.k.a. AL-GADDAFI, Muhammad; a.k.a. AL-QADHAFI, Mohammed; a.k.a. ELKADDAFI, Muhammad; a.k.a. EL-QADDAFI, Muhammad; a.k.a. GADHAFFI, Mohammad Moammar; a.k.a. GADHAFI, Mohammed; a.k.a. GHATHAFI, Muhammad; a.k.a. QADDAFI, Muhammad; a.k.a. QADHAFI, Mohammed Muammar); DOB 1970; POB Tripoli, Libya (individual) [LIBYA2]
GADDAFI, Saadi (a.k.a. AL-GADDAFI, Saadi; a.k.a. AL-QADHAFI, Sa'adi Mu'ammar; a.k.a. ELKADDAFI, Saadi; a.k.a. EL-QADDAFI, Saadi; a.k.a. GADHAFI, Saadi; a.k.a. GHATHAFI, Saadi; a.k.a. QADDAFI, Saadi; a.k.a. QADHAFI, Saadi); DOB 27 May 1973; alt. DOB 25 May 1973; POB Tripoli, Libya; Passport 010433 (Libya); alt. Passport 014797 (Libya) (individual) [LIBYA2]
GADDAFI, Saif Al-Arab (a.k.a. AL-GADDAFI, Saif Al-Arab; a.k.a. AL-QADHAFI, Saif Al-Arab; a.k.a. ELKADDAFI, Saif Al-Arab; a.k.a. EL-QADDAFI, Saif Al-Arab; a.k.a. GADDAFI, Seif Al-Arab; a.k.a. GADHAFI, Saif Al-Arab; a.k.a. GHATHAFI, Saif Al-Arab; a.k.a. QADDAFI, Saif Al-Arab; a.k.a. QADHAFI, Saif Al-Arab); DOB 1979; alt. DOB 1982; alt. DOB 1983; POB Tripoli, Libya (individual) [LIBYA2]
JABIR, Abu Bakr Yunis (a.k.a. JABER, Abu Bakr Yunis); DOB 1952; POB Jalo, Libya; Defense Minister; Major General (individual) [LIBYA2]
MATUQ, Matuq Mohammed (a.k.a. MATOUK, Matouk Mohamed; a.k.a. MATUQ, Matuq Muhammad); DOB 1956; POB Khoms, Libya; Secretary of
the General P
eople's Committee for Public Works (individual) [LIBYA2]
UN Sanctions
On Saturday, 26 February
the UN Security Council adopted Resolution 1970 to address
the evolving situation in Libya. Specifically,
the new resolution requires UN Member States to impose:
- An arms embargo against Libya, preventing the direct or indirect supply, sale or transfer of arms and related materiel to and/or from Libya, as well as technical assistance, training, financial or other assistance related to military activities (including the provision of armed mercenary personnel) in Libya.
- A travel ban, preventing the entry into or transit through their territories, of individuals listed in Annex I of the resolution or designated by a new Sanctions Committee established by the UN Security Council (at present, a total of 16 individuals are included on the list).
- An asset freeze of funds, other financial assets and economic resources which are on their territories, which are owned or controlled (directly or indirectly) by the individuals or entities listed in Annex II of the resolution or designated by the new Sanctions Committee (at present, Colonel Gaddafi and five other members of his family are included on the list for such asset freeze).
UN Security Council Resolution 2.26.11.pdf - 52.96 KB
http://taighde.com/w/Libya_Investment_Authority
http://www.carlyle.com/media%20room/news%20archive/2005/item7089.html
Excerpt:
Alex S. Ying focuses on Asian buyout opportunities and is based in Hong Kong. Mr. Ying joined Carlyle Asia in 2001 and has been instrumental in Carlyle’s investment in Caribbean Investment Holdings. Prior to joining Carlyle Asia, Mr. Ying was a member of Carlyle’s U.S. Real Estate Group, where he was integrally involved in the execution of more than $1 billion of acquisitions. Prior to joining Carlyle, Mr. Ying was an investment banker with CIBC Oppenheimer, where he focused on a variety of industries, including telecom and healthcare. Prior to that, Mr. Ying worked in both the Acquisition and Asset Management groups of
Colony Capital, a global real estate private equity firm. Mr. Ying received his M.B.A. from the Anderson School at the University of California, Los Angeles and his B.S. from the University of California, Los Angeles. He also holds a master’s degree in real estate development from the University of Southern California. Mr. Ying is a member of the Board of Directors of Caribbean Investment Holdings.
Colony Capital and Michael Jackson
http://en.wikipedia.org/wiki/Colony_Capital
Excerpt:
On November 11, 2008,
Michael Jackson transferred the title of his 2,700 acre
[1] estate
Neverland Ranch to Sycamore Valley Ranch Company LLC, a joint venture between Jackson (represented by attorney, L. Londell McMillan) and an affiliate of Colony Capital.
[2][3][4][5] It is unclear if the Jackson estate still owns the property.
[6] The
Santa Barbara County Assessor's Office stated Jackson sold the property for US$35 million.
[7][8]
http://aconstantineblacklist.blogspot.com/2009/07/michael-jackson-dr-tohme-tohme.html
Excerpt:
A "self-made financier with a murky past" who was "a close personal friend of
Tom Barrack, CEO of
Colony Capital" and who also personally negotiated the concert deal with
[Anschutz's] AEG Live, Tohme "had stiff competition from others who wanted to take over Jackson’s finances."
http://www.nypost.com/seven/06262009/news/nationalnews/dr__tohme__i_wasnt_there_when_jacko_died_176274.htm
Sycamore Valley Ranch Co. is a joint venture between Michael Jackson and an affiliate of Colony Capital LLC. Tom Pearson said the deed did not indicate who owns Sycamore. A listing on the California secretary of state’s Web site says the company filed with the state in June 2008. It does not identify its owners, but the company has the same Century City address as Colony Capital LLC. Colony Capital.
What is clear is that Michael Jackson still had invested interest in Neverland, what isn’t clear is what excatly Colony Capital LLC owns and what Michael Jackson still owned. Was it a 50/50 partnership, does Colony Capital LLC own full Neverland deed. We just don’t know at this stage. Eventually these questions will be answered
