The Al Gosaibi business family of Saudi Arabia has asked a court in the Cayman Islands to lift a freezing order on billions of dollars of assets belonging to the Saudi Arabian entrepreneur Maan Al Sanea.
A statement from the Al Gosaibi's New York law firm, Baach Robinson & Lewis, said the family had 'moved for voluntary dismissal of its worldwide freezing order against Mr Al Sanea and his companies'.
When the order was granted more than two years ago, it was regarded as a significant success for the Al Gosaibi family in their battle against Mr Al Sanea, whom they have accused of fraud. He has consistently denied the allegation. In June the Al Gosaibi family lost a court case in London brought by financial creditors.
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