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US court overturns Algosiabi dispute rulingA ruling that a dispute involving Ahmad Hamad Algosaibi and Brothers Company (AHAB), Maan Al Sanea and Mashreq Bank could not be heard in a New York court has been overturned by the state's appeal court, a report said. Mashreq More… |
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Court orders Al-Sanea to pay $2.5bnA Cayman Court has ordered Maan Al-Sanea to pay the Algosaibi family $2.5 billion, the latest twist in a tortuous legal battle the Saudi billionaire and his in-laws have been waging in courts across the globe since 2009. The judgement will More… |
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Saudi Algosaibi 'wins damages claim'The Grand Court of the Cayman Islands yesterday granted a default judgment in favour of Ahmad Hamad Algosaibi & Brothers (AHAB) against Maan Al Sanea, said a report. AHAB said it would now push for an assessment of damages for conspira More… |
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UK court lifts $9.2bn Saad asset freezeA UK court has lifted a freezing order on assets worth $9.2 billion of Maan Al-Sanea, the founder of Saudi Arabia's Saad Group, in what his legal team called a 'significant turning point' in a bitter legal battle wi More… |
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Cayman judge lifts freeze on Al-Sanea assetsA Cayman court has ordered a worldwide freezing order on the assets of billionaire Maan Al-Sanea be lifted, as it assesses new evidence in the Saudi businessman's multi-billion dollar legal battle with his in-laws, the Algosaibi family. More… |
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Algosaibis drop defence against banks' claimsThe Saudi Algosaibi family gave up their fight against claims from five banks linked to a high-profile $22 billion feud within their clan over the collapse of their financial empire. The family's Ahmad Hamad Algosaibi & Brothers ( More… |
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Saad boss facing charges in BahrainBahrain is pressing charges against Saudi businessman Maan Al-Sanea, the first time any of the players in a multi-billion dollar row with the Algosaibi family face the prospect of trial in a criminal court. Al-Sanea is o More… |
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Banks told to raise Saad, Algosaibi provisionsThe UAE central bank wants lenders to raise to 80 percent their provisions against exposure to two Saudi conglomerates, according to newspaper reports on Monday, causing a decline in Dubai-based banking stocks. Arabic dailies Al Khaleej a More… |
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Bahrain frees UK bankers in Saad caseBahrain has released four Britons held in the country for 18 months after the banks they worked for collapsed, in a meltdown that has caused a multi-billion dollar row between two Saudi families. The four - who worked at banks related to t More… |
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Signature riddle over Saudi loans disputeForensic experts have been unable to prove whether signatures at the centre of a $10 billion Saudi business lawsuit are genuine or fake, a report said. The dispute is between Saudi Arabian business houses Algosaibi and the Saad Group. More… |
