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Paris-headquartered bank BNP Paribas has gained permission to appeal against a portion of a judgment handed down by the English High Court on 7 December, which said it owed a duty of care to certificate holders of a US$650 million Islamic bond in which it had acted as arranger.
20 December 2017
International bank BNP Paribas breached the duty of care it owed to hedge fund investors in a US$650 million Islamic bond when it failed, as arranger, to ensure a promissory note issued under Saudi Arabian law was properly executed, the High Court in London has ruled.
08 December 2017
The UK Supreme Court has blocked attempts by the liquidators of collapsed Cayman investment fund Saad to claim for its estate US$318 million in shares transferred by Saudi billionaire Maan Al-Sanea to a Saudi bank, six weeks after the fund collapsed in 2009.
02 February 2017
Saudi Arabian family-run conglomerate Ahmad Hamad Algosaibi & Brothers (AHAB), has signed a deal with several of its lenders to implement a US$6 billion restructuring plan, bringing the Arab region’s largest debt default a step closer to resolution.
26 July 2016
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