Judgment
AHAB v Saad Investments Company Limited (in official liquidation) and Ors - Judgment
FSD 0054/2009 (ASCJ) · 2018-05-31
Fraud; breach of fiduciary duty; knowing receipt; knowing assistance; conspiracy; massive multi‑billion‑dollar Ponzi‑like borrowing scheme via Money Exchange; falsified financial statements; attribution of knowledge to partners; collapse of “New for Old” defence; tracing; proprietary claims; counterclaims; all claims and counterclaims dismissed
Full metadata
| Cause Number | FSD 0054/2009 (ASCJ) |
|---|---|
| Court | CIGC (FSD) |
| Judge | Smellie CJ |
| Parties | AHAB v Saad Investments Company Limited (in official liquidation) and Ors - Judgment |
| Judgment Date | 2018-05-31 |
| Subject | Fraud; breach of fiduciary duty; knowing receipt; knowing assistance; conspiracy; massive multi‑billion‑dollar Ponzi‑like borrowing scheme via Money Exchange; falsified financial statements; attribution of knowledge to partners; collapse of “New for Old” defence; tracing; proprietary claims; counterclaims; all claims and counterclaims dismissed |
| Filename (current) | 18-05-31-AHAB-v-SICL-Ors.pdf |
Legislation cited
| Statute | Sections cited | Mentions |
|---|---|---|
| Companies Act | 102, 172(3) and 180(5) | 2 |
| Penal Code | 247, 248, 255 and 257 | 2 |
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