Saad/Al-Gosaibi row continues

Saad Group launched an $8.2bn counterclaim against the Al-Gosaibis on 22 April over promissory notes, real estate and money allegedly owed to Maan Al-Sanea’s companies. The Al-Gosaibis claim that all the promissory notes are forged. The counterclaim follows the filing of Ahmed Hamad Al-Gosaibi and Brothers (AHAB)’s $9.2bn claim against AHAB’s The International Banking Corporation (TIBC, now in administration) on 28 March, which it alleges was de facto run by Al-Sanea (GSN 898/12).