Khorafi family to file new multimillion-dollar claim against banks | The National:
"Kuwait’s Khorafi family yesterday said it was planning to file a new multimillion-dollar claim against its former investment advisers, the latest development in the long-running row over a series of investments that went bad during the financial crisis in 2008.
Last Wednesday, Sir John Chadwick, the deputy chief justice of the DIFC Courts, ordered Bank Sarasin-Alpen (ME), a DIFC-registered bank, and Bank Sarasin, a related finance house from Basel, Switzerland, to pay the family US$59.6 million in compensation.
Bank Sarasin-Alpen (ME) was ordered to pay $35m to three members of the Khorafi family, while Bank Sarasin, which has subsequently merged with the Swiss bank J Safra, was ordered to pay $24.6m."
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