TRIPOLI, Oct. 29 (Xinhua) -- Libya's Benghazi Administrative Court on Sunday ruled to suspend the decision of the UN-backed Government of National Accord (GNA) in Tripoli to form a new board of trustees of the Libyan Investment Authority.
The court's decision was issued after an appeal submitted by the eastern-based interim government against the decision of the GNA regarding the formation of a new board of trustees.
UN-backed Prime Minister, Fayez Serraj, issued decision No. 12 in May to form a board of trustees for the investment authority. The decision states that Serraj heads the new board of trustees.
"The court ruled in favor of the interim prime minister's request to suspend the decision in the judgment handed over on Oct. 29 to the appellants," said Hatem Al-Arebi, spokesman of the interim government.
The Libyan Investment Authority was formed in 2006 with a total asset of 67 billion U.S. dollars, according to an international statistical published in 2012.
Libya remains politically divided despite a UN-sponsored peace agreement signed by Libya's political rivals.
