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Offshore Cases

Sheikh Abdullah Ali Alhamrani -v- Sheikh Mohamed Ali Alhamrani and Others Claim No. BVIHCVAP 2013/005

September 2013 Companies

BRITISH VIRGIN ISLANDS

COURT OF APPEAL

SHARES - BUY/SELL AGREEMENT MADE IN SAUDI ARABIA RELATING TO ALL JOINTLY HELD ASSETS - BVI COMPANY NOT INCLUDED IN A LIST OF THE JOINTLY HELD ASSETS VALUED - DISPUTE ARISING WHETHER THE SHARES IN THE BVI COMPANY WERE INCLUDED IN THE SOLD ASSETS - EXPERT EVIDENCE ON SHARI’A LAW ACCEPTED BY JUDGE - WHETHER JUDGE RIGHT TO HOLD AGREEMENT WAS NOT AMBIGUOUS - WHETHER ISSUE RES JUDICATA

In a dispute between brothers of a prominent Saudi Arabian family over the ownership of shares in a BVI company known as Chemtrade Limited (“Chemtrade”), the Court of Appeal applied principles of Shari’a law (as they relate to a process of disassociation between the family members (known as “takharuj”) and overturned the decision of the High Court to order the Respondents to transfer the shares in Chemtrade to the Appellant.

The main issue on this appeal was whether the Chemtrade shares were included in a Buy/Sell Agreement made in Saudi Arabia relating to all jointly held assets of the family, in circumstances where those shares were not expressly included in the list of assets said to be transferred.

 

To continue reading full articles in PDF format:
Sheikh Abdullah Ali Alhamrani -v- Sheikh Mohamed Ali Alhamrani and Others Claim No. BVIHCVAP 2013/005

 

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EDITOR & HEAD OF LITIGATION BERMUDA

Christian R. Luthi
Tel: +1 441 298 7814
Email: christian.luthi@conyersdill.com


Head of Litigation British virgin islands

Mark J. Forte
Tel: +1 284 852 1113
Email: mark.forte@conyersdill.com


Head of Litigation Cayman Islands

Paul Smith
Tel: +1 345 814 7777
Email: paul.smith@conyersdill.com


HEAD OF THE ASIA DISPUTES & RESTRUCTURING GROUP

Nigel K. Meeson, QC
Tel: +852 2842 9553
Email: nigel.meeson@conyersdill.com

Offshore Cases

Sheikh Abdullah Ali Alhamrani -v- Sheikh Mohamed Ali Alhamrani and Others Claim No. BVIHCVAP 2013/005

17 September 2013

BRITISH VIRGIN ISLANDS

COURT OF APPEAL

SHARES - BUY/SELL AGREEMENT MADE IN SAUDI ARABIA RELATING TO ALL JOINTLY HELD ASSETS - BVI COMPANY NOT INCLUDED IN A LIST OF THE JOINTLY HELD ASSETS VALUED - DISPUTE ARISING WHETHER THE SHARES IN THE BVI COMPANY WERE INCLUDED IN THE SOLD ASSETS - EXPERT EVIDENCE ON SHARI’A LAW ACCEPTED BY JUDGE - WHETHER JUDGE RIGHT TO HOLD AGREEMENT WAS NOT AMBIGUOUS - WHETHER ISSUE RES JUDICATA

In a dispute between brothers of a prominent Saudi Arabian family over the ownership of shares in a BVI company known as Chemtrade Limited (“Chemtrade”), the Court of Appeal applied principles of Shari’a law (as they relate to a process of disassociation between the family members (known as “takharuj”) and overturned the decision of the High Court to order the Respondents to transfer the shares in Chemtrade to the Appellant.

The main issue on this appeal was whether the Chemtrade shares were included in a Buy/Sell Agreement made in Saudi Arabia relating to all jointly held assets of the family, in circumstances where those shares were not expressly included in the list of assets said to be transferred.

 

To continue reading full articles in PDF format:
Sheikh Abdullah Ali Alhamrani -v- Sheikh Mohamed Ali Alhamrani and Others Claim No. BVIHCVAP 2013/005

 

 

EDITOR & HEAD OF LITIGATION BERMUDA

Christian R. Luthi
Tel.: +1 441 298 7814
Email.: christian.luthi@conyersdill.com


Head of Litigation British virgin islands

Mark J. Forte
Tel.: +1 284 852 1113
Email.: mark.forte@conyersdill.com


Head of Litigation Cayman Islands

Paul Smith
Tel.: +1 345 814 7777
Email.: paul.smith@conyersdill.com


HEAD OF THE ASIA DISPUTES & RESTRUCTURING GROUP

Nigel K. Meeson, Q.C.
Tel.: +852 2842 9553
Email.: nigel.meeson@conyersdill.com