The debt is in unpaid bills and trade debts

WSP has admitted it is owed £5m in unpaid bills and trade debts after withdrawing from Libya.

In an interim management statement released to the City on Wednesday, it said: “The group has a number of contracts in Libya. As a result of recent events in that country, we have now exited almost all our staff and, for the moment, stopped work on these contracts.

“There is currently an asset exposure of around £5m to Libya, largely through trade debtors and unbilled amounts due on contracts, which is being actively pursued,” it said.