The court ruled that the defence provided by the Libya Africa Investment Portfolio (LAP) challenging a case brought against it by Catalyst Managerial Services (CMS) was “fanciful”. It awarded CMS damages of $15 million.
This judgment forms part of a wider claim by CMS against LAP for unpaid project fees, expenses and damages relating to a five year services contract that was commenced in Tripoli in 2009.
In the current hearing Master Kay QC held that LAP had no evidential basis for its defence and therefore it was not necessary to proceed to a full hearing since LAP had no real prospect of defending the claim on any factual basis.
Lord Daniel Brennan QC was involved in this case.