Saudi HSBC Affiliate Sues For £28M Unpaid Loans

Law360, London (May 12, 2020, 6:48 PM BST) -- HSBC's Saudi Arabia affiliate is asking London's High Court to order a businessman to hand over £28.1 million ($35 million) after he agreed to take on the responsibility for the debt repayments of his now-defaulted trading group. 

Saudi British Bank, which is partly owned by HSBC Holdings PLC, says that Badr Bin Fahad Bin Ibrahim Al Dawood must pay up under the terms of personal guarantees he made for four of his companies in order to secure ongoing bank credit and service from the lender, according to High Court documents that were recently made public.

Under the terms of the arrangements, each...

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

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?
Beta
Ask a question!