A courtroom showdown is looming in Britain between international banks and the al Gosaibi family of Saudi Arabia.
A case brought by six banking groups opens in London's high court today against Ahmad Hamad Al Gosaibi and Brothers, the family partnership that runs the conglomerate's trading empire in Saudi Arabia.
The banks are seeking the repayment of US$250 million (Dh918.2m) in loans and interest they claim is owed by Al Gosaibi since the company defaulted on liabilities in 2009.
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