Contracts are generally intended to be performed as agreed. However, exceptional events may interfere with performance. Libyan civil law recognizes the relevance of force majeure and hardship in the contractual context. The Libyan Civil Code is described as addressing force majeure and hardship, and Article
Introduction: Libya continues to represent a strategically important market for foreign investors and international companies seeking opportunities in North Africa. Despite periods of political and regulatory fluctuation, the Libyan market remains highly attractive due to its substantial natural resources, infrastructure reconstruction needs, strategic geographic location,
In Libya’s evolving commercial landscape, many companies are founded and operated by multiple shareholders, whether through family-owned enterprises, joint ventures, or investment driven structures. While Libyan Commercial Law provides the legal foundation for company formation and governance, experience shows that long term corporate stability often
Within the framework of the State’s endeavour to develop infrastructure and improve the quality of public services, and with the aim of attracting private sector expertise for strategic projects that contribute to advancing economic and social development, Cabinet Decision No. (507) of 2025 establishes the
In an era of globalization, where trade, finance, and information flow across borders at unprecedented speed, the weaknesses and strengths of national legal systems are more visible than ever. This paper argues that globalization exposes both the strengths and the weaknesses of Libya’s hybrid legal
Tumi’s Law Firm has once again been acclaimed on the international stage, securing recognition in two of the world’s most prestigious legal publications: the Project Finance Guide 2025 and the Global M&A Guide 2025. This marks the third consecutive year, since 2023, that the firm has been acknowledged as
Libya is endowed with vast natural resources and a strategic location at the crossroads of Africa, Europe and the Middle East. These advantages and the potential in non-oil sectors, make Libya a strong contender for foreign investment. Law No.9 of 2010 on Investment Promotion, backed
Abstract In a decision with concerning implications for sovereign immunity and enforcement of investor-state arbitral awards, the Paris Court of Appeal affirmed that Libya’s National Oil Corporation (NOC) operates as an alter ego and can be treated as an extension of the Libyan state, thereby
1. Executive Summary Libya’s courts remain heavily dependent on paper archives, carbon-copy pleadings, and hand-written registers. The resulting delays, loss of files, and evidentiary gaps undermine due-process guarantees in Articles 31–33 of the Interim Constitutional Declaration and erode public confidence.This memorandum outlines a phased, AI-enabled digital
Arbitration is a form of alternative dispute resolution, where parties to a dispute may appoint arbitrators to resolve a matter outside the judiciary. This method has become highly favorable worldwide as it provides a more efficient and speedy resolution, especially for businesses looking to cut