New move to target Libyan assets in Italy
Libya – A report by the Italian news agency Nova said Belgian Prince Laurent is seeking to target Libyan assets in Italy to recover roughly €50 million.
A years-long legal battle
According to the report, which Al-Marsad followed, the attempt rests on guidance issued by Italy’s Court of Cassation in May 2025 on immunity and the seizure of assets owned by foreign states, making Italy a new front in a long legal battle Laurent launched to recover about €50 million from Libya.
The report said lawyers for the Global Trust Fund for Sustainable Development linked to Laurent have begun moves in Italy to identify accounts, loans and other assets attributed to Libya that may be subject to enforcement proceedings, noting that the roots of the case date back to 2008.
Dispute rooted in a reforestation project
According to the report, the Global Trust Fund for Sustainable Development concluded an agreement with Libyan authorities to carry out a reforestation and desertification-control project before Libya ended the contract in 2010, leading to a dispute that later ended with Belgian courts recognising the Laurent-linked organisation’s right to compensation.
The report added that the amount claimed was initially lower before rising with interest and costs to nearly €50 million.
