Byers & ors v The Saudi National Bank [2022] WTLR 437
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...
Ralph v Ralph [2021] WTLR 1443
Winter 2021 #185The claimant was the son of the defendant. The parties were the registered owners of a residential property. The property was purchased through a mortgage which was obtained using the claimant’s earnings. The defendant paid the balance of the purchase price meaning that the claimant made no contribution. The TR1 was signed by the transferors but not the claimant and defendant as transferees, but nevertheless contained a manuscript cross in Box 11 recording that ‘the transferees are to hold the property on trust for themselves as tenants in common in equal shares’. The claimant claimed a ...