Libya state seizes Turkish assets in the country

Libya state seizes Turkish assets in the country

ISTANBUL- Hürriyet Daily News
Libya state seizes Turkish assets in the country

Members of the Libyan supreme security council make the victory signs in Martyrs' Square in Tripoli May 30, 2012. REUTERS photo

Libyan authorities have seized the assets of 338 names, including Turkish companies and individuals, and frozen all transactions, daily Hürriyet reported.

The move is a reaction of the country’s old governing bodies ahead of their upcoming elections and may simply be a mistake, according to Emin Sazak, the head of Turkish Contractors Association. "It's a bit complicated right now," Sazak said. "We are following things closely."

The companies and individuals named are now incapable of makeing any and all transactions, according to daily Hürriyet. Out of the 338 names involved in the assets seizure, over 200 are individuals. Some are known to have close ties with the pre-revolution government in Libya.

General Director of the Rixos Hotels, Şükrü Koçak, and 54 Turkish staff members have begun the process of returning home. The hotel’s personnel have been receiving death threats and are now looking to return to Turkey. Koçak himself was kidnapped once by a militia leader frustrated with the amount of expenses he was billed after his stay at the hotel. Koçak was eventually released through the efforts of Turkish authorities.

"There is no stability in Libya right now," Rixos owner Fettah Tamince said. "They are all waiting for the elections."