December 12, 2019

Cayman Islands: AHAB v Saad – importance of a particularised and principled tracing claim

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By Harneys From Lexology In the Ahmad Hamad Algosaibi & Brothers Company (AHAB) v Saad judgment handed down on 31 May 2018, AHAB’s attempts to trace into the hands of the defendants were addressed (for further details please see “Grand Court dismisses multibillion-dollar fraud claim in “one of the largest Ponzi schemes in history””). In […]

AHAB v SICL & Others: the most significant fraud trial ever to be heard in the Cayman Islands

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By partners Colette Wilkins & Shelley White, Walkers Cayman Islands Introduction After a trial lasting a little over a year, the Chief Justice of the Grand Court of the Cayman Islands has handed down judgment in the case of AHAB v SICL & Others; the most significant fraud trial, both in terms of value and […]

The Editor Speaks: Biggest trial ever heard in the Cayman Islands gets world wide attention. Insane.

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It was like a John Grisham novel after reading the summaries provided to the media and published here on iNews Cayman on May 31 2018 (https://www.ieyenews.com/wordpress/cayman-islands-hon-chief-justices-jugement-on-the-ahab-v-sicl-and-others/). It was a landmark case and followed a 10-year dispute played out in international courts between the Al Gosaibis and Maan Al Sanea over who was to blame for […]

Cayman Islands: Hon. Chief Justice’s Judgement on the AHAB v SICL and others

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NOTE: See also related story published in iNews Cayman today “Walkers Leads Landmark Defence of Mega-Litigation”  IMAGE (left) Billionaire Al-Sanea Executive Summary 1.Ahmad Hamad Algosaibi Brothers partnership, or AHAB, has its origins in a business began by Hamad Algosaibi in the 1940s. Hamad died in 1969 and was succeeded by his three sons, Ahmad, Abdulaziz, […]

Harriet Fear Davies returns to [Devereaux] Chambers after 129 day trial in Cayman Islands

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From Devereaux Harriet has returned to her normal London-based practice after the conclusion of the trial in AHAB v Al Sanea and others. The case arises from the collapse of Ahmad Hamad Al Gosaibi & Brothers (AHAB) in Saudi Arabia in 2009, when it became unable to repay billions of dollars which it had borrowed […]

Cayman Islands: Justice on display

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Last Updated: 24 January 2017 From Mondaq Article by Morven McMillan and Maxine Bodden Maples and Calder Not that long ago, personal records were written by pen or typewriter. Copying them required more handwriting, carbon paper or a time consuming and occasionally messy process involving a machine called a spirit duplicator. For third parties, obtaining […]

Algosaibi Groups signs Settlement Agreement

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Algosaibi Groups signs Settlement Agreement with Claimant Steering Committee – largest trial in history of the Cayman Islands begins in AHAB case against Al Sanea Liquidators AL KHOBAR, Saudi Arabia, July 24, 2016 /PRNewswire/ — Coinciding events in the last week represent an historic milestone in the efforts of Ahmad Hamad Algosaibi & Brothers (“AHAB” […]

Multi-Billion-Dollar International litigation begins in Cayman Islands

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The eyes of the international financial community around the world will be on the Cayman Islands beginning Monday (18 July), when the largest trial in the history of this jurisdiction, with billions of dollars at stake, begins in Grand Court. The case, to be presided over by Chief Justice Anthony Smellie, QC, involves worldwide allegations […]

AHAB settlement proposal following Cayman’s CJ’s decision

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AHAB Settlement Proposal to Break Years of Deadlock; Financial Institutions Asserting Claims are Invited to May 7 Meeting in Dubai WASHINGTON, March 31, 2014 /PRNewswire/ — Ahmad Hamad Algosaibi & Brothers Company (“AHAB”) announced today that it has invited financial institutions with claims against the company to attend a meeting in Dubai, UAE on May […]