Saad Investments Company Ltd. filed the complaint yesterday in the High Court in London and details of the allegations in the suit weren’t immediately available. Tim Robertson of Cardew Group, Saad’s external U.K. spokesman, declined to immediately comment when reached today by phone.
Al-Sanea also faces global litigation with Saudi Arabia’s Algosaibi family and their Ahmad Hamad Algosaibi & Brothers Co., another group of companies spanning multiple industries. Algosaibi has sued al-Sanea, who had married into the family, in the Cayman Islands, Saudi Arabia and New York, accusing him of heaping debt on the company by taking out fraudulent loans. Both groups defaulted in 2009 after borrowing about $15.7 billion from more than 80 banks.
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