Posted on: October 9th, 2014
On 3 October 2014, the Financial Times published the attached report concerning an on-going application for the alleged contempt of the managing director of Dar Al Arkan Real Estate Development, Saudi’s largest real estate firm, the Claimant in this together with Bank Alkhair based in Bahrain. The proceedings were commenced in 2012 against a number of Defendants. PCB Litigation is acting for one of the Defendants, the former Managing Director and CEO of Bank Alkhair, Majid Al-Sayed Bader Hashim Al Refai, an investment banker and resident of Kuwait. The trial is due to start in March 2015 and expected to be one of the largest trials to be heard in the English Commercial Court next year. It has been listed by The Lawyer magazine as one of the largest cases in 2014.