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IHI implements UN Libya sanctions
International Hotel Investments implements restrictive measures on LAFICO shareholding.
International Hotel Investments, the holding company for the Corinthia Hotel Group, has implemented the restrictive measures from the United Nations Securty Council’s sanctions in respect of the shareholding in the company held by the Libyan Foreign Investment Company (LAFICO).
“It is important to note that the said restrictive measures are aimed at freezing the shareholdings held by certain Libyan entities in companies worldwide, and not at disrupting the operation of the companies themselves, particularly in instances where other shareholders have stakes too,” company secretary Alfred Fabri said.
“Notwithstanding this, the Company has sought and obtained all necessary clarifications and formal licenses from several Governments in various jurisdictions where its businesses are in operation and has continued to trade normally.”
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I don't think IHI had any choice in this, so why are they presenting it to the public as if it's some kind of gesture on their part? They are simply obeying the law like they are bound to do.
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It is good for David Fabri to come out with this news. I am sure it was not easy.
Yet when the UN sanctions hit Libya, the international press reported that the EU will implement them at 10am Brussels time on 8 March, unless Malta or Italy raise last-minute objections.
Details of what EU countries were about to freeze were held back to prevent Gaddafi from smuggling out money before the measures enter into life.
16 whole days after and this government is still mum on whether it intends to freeze any Libyan assets held locally, notwithstanding our close proximately to Libya.
If this government really wants to dispel what the Libyan rebels have maintained namely that Malta is a province of Libya, why has Government not come out with a list of bank accounts and Libyan interests that it intends to freeze?
During the weekend Tonio Borg the foreign minister was put in the dock by Sky reporters on this issue, yet silence prevails. Why? Can the Maltese public know what is exactly happening?
