Saudi Arabian news outlets have reported a new development in the Al Gosaibi - Saad Group dispute, that comes as a blow to AHAB's claims against Maan Al-Sanea.
The Al Sharq El Awsat newspaper reports that the country's Administrative Court in the Eastern Province has dismissed the AHAB claim against Maan Al-Sanea that he acted fradulently with regards the acquisition and profits from shares in Samba Financial Group. The newspaper states that the verdict was delivered because of a 'lack of claim'.
Al Sharq El Awsat reports that laywer, Bader el Bassis, commented to the paper that this verdict represents the almost the final decision on this matter, though the Al Gosaibis may lodge an appeal during the period of objection. Though they may well do so, it is hard to deny that this verdict in the Saudi court must be a major disappointment.
Read the original Al Sharq report (in Arabic) here.
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