US$9 billion US fraud charge dropped in Saudi’s long-running feud between Al Gosaibi and Al Sanea | The National:
"The international cold war between Saudi Arabia’s Al Gosaibi family and fellow Saudi businessman Maan Al Sanea took an unexpected turn on Monday after the Gosaibis dropped their US$9 billion claim against Glenn Stewart, often described as Mr Al Sanea’s right-hand man.
Ahmed Hamad Al Gosaibi & Brothers (Ahab), the family’s partnership, filed the action against Mr Stewart in California in March 2011, which alleged aiding and abetting fraud, breach of fiduciary duty, fraud and fraud conspiracy, and unjust enrichment while he was chief executive of The International Banking Corporation (TIBC), a Bahraini bank.
However, in a dramatic turn of events a settlement was agreed by both parties on Monday, after Ahab’s legal team approached Mr Stewart’s defence lawyers during the summer about drawing the case to a close."
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