AHAB files appeal in dispute with Saad Group

Dubai

Ahmad Hamad Al Gosaibi and Brothers (AHAB), a Saudi Arabian family-owned business, said on Thursday it has filed an appeal against a judgement by the Cayman Islands Grand Court in its dispute with the Saad Group.

AHAB said the appeal will be for the benefit of AHAB’s creditors.

Last week, the Saudi Arabian Capital Markets Authority also rejected AHAB’s claim against the Authority relating to shares taken in 2010 by Saudi British Bank and Samba Financial Group. AHAB said it pursue an appeal against that.