Wills & Trusts Law Reports | Summer 2022 #187This action related to a transfer in September 2009 of shares in five Saudi Arabian banks, then collectively worth about US$318m, by Mr Maan Al-Sanea (who at that time held those shares) to Samba Financial Group (Samba). The claimants were the liquidators of Saad Investments Company Ltd (SICL). They alleged that Mr Al-Sanea had at the time of the transfer held those shares on trust for SICL. The claimants brought a number of different actions against Samba in respect of the transfer of the shares, formulating the case on various legal bases in the various different actions. The iteration...
Chris Webber and Michael Davar weigh up the impact of the Rome Convention in financial derivatives claims ‘The English Court of Appeal has restored the vital certainty engendered by derivatives having a clear, single choice of law and not potentially being subject to “mandatory” rules of other jurisdictions that have not been anticipated and addressed …
Continue reading "Choice Of Law: A fair exchange"
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