Saudi Bank Denied More Time In $318M Securities Row

Law360, London (December 20, 2019, 3:45 PM GMT) -- Saudi Arabian bank Samba Financial Group was denied on Friday more time to hand over key documents in litigation over $318 million worth of shares, after a judge dismissed its argument that doing so would put it at risk of “serious sanctions and penalties” from its national regulator.

Judge Timothy Fancourt said that the bank had known it was at risk of missing an already extended deadline of Dec. 13 for the disclosure of internal communications and records related to the High Court claim, and had waited too long to file an application for a second extension.

He said he found...

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