Wednesday, 4 August 2010

Court rulings put spotlight back on Saudi Arabia

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.

No comments:

Post a Comment