Swiss firm gets Libyan funds seized

An update on: Gaddafi Declares Jihad Against Switzerland

One of the firms forced to close its business in Libya as part of Tripoli’s economic measures against Switzerland, is suing Libya in the Geneva courts.

An exclusive report in the Geneva-based Le Temps newspaper on Wednesday says the small high tech firm, which wants to remain anonymous, has had SFr11.6 million ($10.7 million) of Libyan assets frozen by the courts pending a judgement.

The company, which was given 45 days to wind up its business and leave the country, is suing the Libyan government for about SFr7 million for unpaid bills and breach of contract, the newspaper says.

Saif al-Islam Gaddafi, “Sword of Islam”, son of the dictator, exhibits his “art” in Moscow

Normally he promotes the jihad of the “shadowy insurgents” in the south of Thailand or the Abu Sayyaf MILF’s in the Philippines:

MOSCOW June 29 (Reuters Life!) – Artist and reformer Saif al-Islam Gaddafi, the Libyan leader’s son credited with brokering Tripoli’s stand-off with the West, kept Russian relations warm on Monday when he showed off his paintings.

Three of the paintings highlight conflict with the West.

“Intifada”  features a young fist clenching a stone with splashes of blood. News clippings of an Israeli raid and a Palestinian funeral have been glued over thick oil paint. “War” features the NATO bombing of Yugoslavia in 1999.

Al Reuters

The money is being held in the branches of three foreign banks in Geneva, it adds.

The paper quotes the lawyer of the plaintiffs as saying that the only recourse open to companies who suffered as a result of the actions of the Libyan regime is to get official Libyan assets seized wherever they may be.

All Swiss businesses operating in Libya were forced to close as part of Tripoli’s retaliatory measures following the brief detention of Hannibal Gaddafi, one of the sons of the Libyan leader, and his wife in July 2008 on suspicion of mistreating two of their domestic staff.

Most of them have kept a low profile in the hope of reaching a negotiated agreement with the Libyan authorities.

Switzerland should close its Embassy and cease trade with Libya. It is not a regime one would want to be associated with. Permanent Visa restrictions should be enforced on Libyan Nationals. Swiss have plenty of other choices in terms of diplomatic relations, trade and vacation.

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