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