VOL. XXXIX

No. 21

19-February-1996

LIBYA

ICC Arbitrates In Favor Of Libya Against Grace Petroleum

The Paris-based Arbitration Commission of the International Chamber of Commerce ruled last week in favor of Libya in the arbitration case with the US firm W. R. Grace Petroleum. Grace had initiated arbitration proceedings to recover value and receive compensation for its Concession 17 (Mabruk field). It is understood that the ICC decision is related directly to the particular nature of...