Smellie CJ
IN THE GRAND COURT OF THE CAYMAN ISLANDS
FINANCIAL SERVICES DIVISION
CAUSE NO. FSD 54 OF 2009
IN THE MATTER OF THE COMPANIES LAW (2009 REVISION)
AND IN THE MATTER OF SAAD INVESTMENTS COMPANY LIMITED
AND 16 OTHER LIQUIDATIONS
BETWEEN
AHMAD HAMAD ALGOSAIBI
AND BROTHERS COMPANY
PLAINTIFF
AND
SAAD INVESTMENTS COMPANY LIMITED
MAAN AL-SANEA AND OTHERS
DEFENDANTS
IN CHAMBERS
THE 14TH, 15TH and 18TH JANUARY 2010 AND 20TH APRIL 2010
BEFORE THE HON. ANTHONY SMELLIE, CHIEF JUSTICE
APPEARANCES:
Mr. Evan McQuater QC and Mr. David Quest instructed
by Mr. Peter Hayden of Mourant for the plaintiff Ahmad
Hamad Algosaibi and Brothers Company (“AHAB”)
Mr. Stephen Smith QC, instructed by Ms. Colette Wilkins
of Walkers for the Liquidators of SICL, the SIFCo
companies (except SIFCo #5)M SHL and Saad Cayman
Limited (“the Grant Thornton or GT liquidators”);
Mr. Ali Malek QC, instructed by Ms. Sarah Dobbyn of
Harneys for the liquidators of SIFCo #5 – (“the Kinetic
liquidators”);
Mr. William Helfrecht of Bodden & Bodden for the
liquidators of the Awal Companies, subsidiaries of Awal
Bank B.S.C. (“the Johnson Smith liquidators”)
[Ms. Charmaine Richter of Appleby for the second
defendant Mr. Al Sanea, who disputes the jurisdiction of
the Court]
CORRIGENDUM TO RULING ISSUED ON 19TH APRIL 2010
On page 66, paragraph 183, line 3, delete the word “objections” and replace it with the
word “obligations”.
Hon. Anthony Smellie
Chief Justice
August 17 2010