JPMorgan, Defunct Firm May Settle $55M Loan Assets Fight

Law360, London (October 2, 2019, 4:56 PM BST) -- A defunct investment company once controlled by a Saudi billionaire’s family conglomerate is in settlement talks with a JP Morgan subsidiary and an insolvent Bahrain-based bank in a dispute over the ownership of at least $55 million in assets pledged as loan security.

An order issued on Monday by the High Court keeps the case on hold until Oct. 4 to "enable the parties to attempt settlement.” The judge, Master Karen Shuman, said she is extending a stay she granted in July.

Liquidators for Saudi billionaire Maan Al Sanea’s Saad Investments Co. Ltd. sued London-based JP Morgan International Bank Ltd. and...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!