Aswat Masriya (Cairo)

Egypt: Switzerland Rejects Egypt's Request to Recover Smuggled Funds

Head of the International Cooperation Bureau, Kamel Gerges, said on Saturday that the Swiss Federal Court rejected Egypt's request to retrieve the smuggled funds to Switzerland.

It was announced in press conference held on Saturday to present the results of the negotiations with Switzerland on the recovery of the money smuggled by icons of the former regime, toppled in February 2011.

Switzerland's authorities have responded to Egypt's request to recover the smuggled funds by drafting a law that enables Egypt to retrieve these funds.

The law would allow Egypt to overcome a Swiss federal court ruling that rejected Egypt's request to recover its stolen funds.

Ads by Google

Copyright © 2013 Aswat Masriya. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.