Lenz & Staehelin with estate before the Federal Supreme Court
Lenz & Staehelin successfully represented an estate composed by 19 heirs of former shareholders from a Libyan company as defendant in proceedings before the Swiss Federal Supreme Court.
The context
In connection with the matter, Libya was seeking to set aside an arbitral award rendered in a Geneva-seated arbitration conducted under the UNCITRAL Arbitration Rules. The arbitral tribunal found in a decision dated 22 December 2023 that it had jurisdiction over the dispute and that Libya breached its obligations under the France-Libya Bilateral Investment Treaty (BIT).
As a result, Swiss Federal Supreme Court upheld the award and dismissed Libya’s application.
Libya had to bear all costs of the proceedings and was ordered to pay the defendant’s legal costs.
The Lenz & Staehelin team
The Lenz & Staehelin team working on the matter featured partner Xavier Favre-Bulle (pictured), associate Clara Samson and former counsel Hanno Wehland.
