Clydes closes Libya outpost amid political instability
Clydes moves Libyan work offshore following Tripoli closure
October 26, 2016 at 05:17 AM
2 minute read
Clyde & Co has closed its office in Libya, it has emerged.
The firm, which became the first international law firm to open in the country when it launched there in August 2012, made the decision to close the office in April amid mounting political instability.
An attempted coup in Libya by the United Nations (UN)-backed Government of National Unity was condemned by the UN earlier this month.
Clydes said that between eight and 10 staff had worked in the office at various times, with most now rehoused in other offices, including former Trowers & Hamlins partner Adrian Creed, who is now working in Abu Dhabi.
Albudery Shariha, who was hired from the Libyan Investment Authority to head the office, left in April this year to set up his own firm.
A Clydes spokesperson said: "We established a small Tripoli office in August 2012. Sadly, the situation in Libya deteriorated after 2012, which made it difficult for our clients to carry out business there and for our staff to operate safely. As a result, along with nearly all of the international community, we have moved our operations offshore for the time being."
The insurance firm announced plans to enter Tripoli after the fall of Muammar Gaddafi in a bid to target energy and disputes work. At the time, it said the country's oil reserves meant there were investment opportunities into the country, energy and infrastructure work, as well as litigation in the wake of the 2011 Arab Spring political uprisings across the Middle East.
Earlier this month, partners elected insurance head Simon Konsta as Clydes' new senior partner following an uncontested election. The election was triggered by current senior partner James Burns' move to a new role as head of Americas, a post he will take up on 1 November.
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