The French-language “Bamada” Malian website said today, Sunday, that the “MARIETOU PALACE” is no longer affiliated with the Libya Africa Investment Portfolio and has been confiscated and put up for auction following a debt that the Libyan party did not pay to buy this hotel, as it entered into debts with banks for a huge amount for a period of 7 years. .
The website added that in the face of non-payment of debts, the BMS-SA Financial Solidarity Bank was forced to start judicial actions against the Libya Africa Investment Portfolio so that it could restore its rights since the Libya Africa Investment Portfolio was classified as doubtful accounts in the same bank, and the law grants the bank The possibility of proceeding to recover his money.
As a result, BMS-SA Bank decided to sue the Libya Africa Investment Portfolio Group before the Grand Court, which issued its ruling on June 14, 2023, and receives the banks’ request and declares that it is legal and based on sound foundations.
The site confirmed that after completing the tax registration procedures, the process of selling the hotel will start in order to find a customer who will be a new buyer. The work of this luxury hotel, located on the banks of the Niger River, stopped a few years ago. It is a title deed registered in the Land Registry No. 4020 in Pozzola.
The site continued by saying that it is necessary to remember that the Libya Africa Investment Portfolio Group was a personal initiative of the late Muammar Gaddafi and was present in many African countries and in other areas and many hotels in Mali belong to the Libya Africa Investment Portfolio and have been facing difficulties since the assassination of Muammar Gaddafi.