Two court rulings last week, one in the Cayman Islands, the other in New York, have thrown the spotlight back on Saudi Arabia in the region’s longest-running corporate confrontation – the stand-off between the al Gosaibi family and one of its members by marriage, Maan al Sanea, the head of the Saad Group.
Last Friday, a New York court threw out lawsuits relating to the dispute following an order by a Cayman Islands court for a temporary stay of action.
It leaves Riyadh with a Gordian Knot of a problem but one it must untie if the kingdom is to advance its reputation as a place where the rest of the world can come to do business.
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