On 27 September 2012, the General Electricity Company of Libya (GECOL) published a statement on its website requesting all firms with existing contracts or orders to contact the GECOL within 30 days 'to resolve the legal situation of their contracts'.

According to the statement, the requirement to contact GECOL also applies to those projects which had not yet started, or which had been halted due events leading to the fall of the Gaddafi regime in October 2011.

Failure to contacting GECOL may result in cancellation of contracts or allocation of previously-awarded work to other companies.

It is extremely important for foreign companies that are subject to this requirement to:

• review the background to the negotiation and conclusion of their contracts with GECOL;

• have a clear understanding of their rights and obligations under the existing contracts prior to contacting GECOL;

• contact GECOL prior to the deadline; and