UAE: Fallout from Lebanese Canadian Bank collapse reaches the Dubai courts

Ghazi Abu Nahl, a Palestinian-born businessman with a prominent position in the Gulf insurance industry, has taken to the Dubai courts to sue accountancy firm Deloitte & Touche (Middle East) and its managing partner Joseph El Fadl for their role in the auditing of the now defunct Lebanese Canadian Bank (LCB). LCB was accused by the US Treasury Department in February 2011 of money laundering on behalf of drugs traffickers and providing financial support to Lebanese Hizbollah.