CARMEL RICKARD: Libya’s state of flux
Uncertainty over which body should be recognised as the government of Libya has seen rival claims for control of the country’s sovereign wealth fund
In the turmoil that has followed the 2011 overthrow of Libyan leader Muammar Gaddafi, the question has arisen of which government other states are to recognise as sovereign in place of the regime he led.
It’s an issue that has been troubling courts and countries since then — particularly in relation to Libya’s sovereign wealth fund, the Libyan Investment Authority (LIA). Management of the fund has been under dispute, with rival claims over control of this almost fabulous oil-derived wealth.