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Libyan Embassy Loses Two Cars to Repo

Apparently times are tougher for Libya right now than you might think. The Libyan embassy in Kampala, Uganda has had two of their luxury cars repossessed by the bank and they are scheduled for sale on May 10.

The Libyan Arab People Bureau (embassy) is identified in the notice as the debtor. The attached cars were used by Mr Abdallah Bujeldain, the former Libyan ambassador to Uganda, while on duty. The ambassador fled Uganda to join the rebels fighting Col. Muammar Gaddafi, press reports said.

The source said the loan was secured last year but the embassy is failing to meet its obligations due to the financial crisis that has hit the Libyan government. “The whole embassy is paralysed because they are not getting funds from Libya,” he said. Mr Yoosefi Murghan, the acting Libyan ambassador to Uganda, declined to comment on the matter. – Source


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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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