Sunday, 19 June 2011

Legal wrangles far from over for battle-weary al Gosaibis

They were putting a brave face on it, but there can be no doubt the al Gosaibi family has been shaken by the events in the High Court in London last week.

Their attempt to disown US$250 million (Dh918.2m) of liabilities was, their own advisers concede, a difficult proposition from the start; when contradictory evidence began turning up late in the day, overlooked then found in a cupboard in Al Khobar in Saudi Arabia, the location of the family company's home and business headquarters, it was the final straw for the judge.

Their advisers say the London decision will enable them to devote more resources to the three other big actions in progress. These all involve Maan al Sanea, whom they still accuse of fraud, theft and forgery, which he denies.

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