Saudi Bank Wins Disclosure Delay In $318M Securities Row

Law360, London (October 22, 2019, 7:38 PM BST) -- Saudi Arabian bank Samba Financial Group received an extension Tuesday to hand over key documents in litigation over $318 million worth of shares transferred to the bank after the lender argued it needed more time to ensure it complied with Saudi law.

Judge Timothy Fancourt gave Samba until Dec. 13 to complete its search and review of all internal communications and records related to claims made by liquidators of Saudi billionaire Maan Al-Sanea’s collapsed investment company, who are hunting for millions of dollars of securities Al-Sanea transferred to the bank in 2009.

Samba said that its lawyers had been unable to...

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!

TRY LAW360 FREE FOR SEVEN DAYS