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In an article entitled "Zambia Risks Asset Attachments as Libya Debt Payments Missed," Bloomberg Technology reported that Libyan telecommunication company LAP GreenN is considering purchasing Zambia's offshore assets after the company defaulted four times on an order to pay $257 million in compensation for nationalizing a firm it invested in.
Says Jay Auslander, "The default 'has to be a red flag' for investors." He added that the missed payments following the 2016 order mean that the company could pursue Zambia's assets. "This was a consent judgment, it's fully enforceable."
Says Jay Auslander, "The default 'has to be a red flag' for investors." He added that the missed payments following the 2016 order mean that the company could pursue Zambia's assets. "This was a consent judgment, it's fully enforceable."
