Despite not carrying out its mission … this is what Lebanon paid to “Alvarez and Marsal”


Alvarez and Marsal, a restructuring consulting firm, was unable to perform the task entrusted to it, withdrawing from the Central Bank of Lebanon’s criminal audit simply because it did not receive sufficient information to carry out the audit.

The Minister of Finance, Ghazi Wazni, informed the President of the Republic, General Michel Aoun, that he received today, Friday, a letter from the “Alvarez and Misal” company to terminate the agreement signed with the Ministry of Finance for the forensic accounting audit, given that the company did not obtain the information and documents required to start carrying out its mission.

Information is circulating that meetings may take place to try to negotiate with the company about the possibility of completing its work, but what did the company take from Lebanon despite the fact that its mission has not ended?

According to information by Al-Jadeed, the company will leave Lebanon and return to its headquarters in Dubai after it obtained 840 thousand dollars, equivalent to about 40% of the full amount that it should receive if it completed its work, which is two million two hundred thousand US dollars. While other information is circulating stating that no dollar has been paid to the company yet, and that the contract states that it cannot claim more than $ 150,000 after terminating the agreement signed with it.


Please enter your comment!
Please enter your name here