AHAB v Saad Investments Company Limited and Maan Al‑Sanea - Corrigendum

¶ IN THE GRAND COURT OF THE CAYMAN ISLANDS
FINANCIAL SERVICES DIVISION
CAUSE NO. FSD 54 OF 2009

¶ IN THE MATTER OF THE COMPANIES LAW (2009 REVISION)
AND IN THE MATTER OF SAAD INVESTMENTS COMPANY LIMITED
AND 16 OTHER LIQUIDATIONS

BETWEEN

¶ AHMAD HAMAD ALGOSAIBI
AND BROTHERS COMPANY

¶ PLAINTIFF
AND

¶ SAAD INVESTMENTS COMPANY LIMITED
MAAN AL-SANEA AND OTHERS

¶ DEFENDANTS
IN CHAMBERS
THE 14TH, 15TH and 18TH JANUARY 2010 AND 20TH APRIL 2010
BEFORE THE HON. ANTHONY SMELLIE, CHIEF JUSTICE

¶ APPEARANCES:
Mr. Evan McQuater QC and Mr. David Quest instructed
by Mr. Peter Hayden of Mourant for the plaintiff Ahmad
Hamad Algosaibi and Brothers Company (“AHAB”)

¶ Mr. Stephen Smith QC, instructed by Ms. Colette Wilkins
of Walkers for the Liquidators of SICL, the SIFCo
companies (except SIFCo #5)M SHL and Saad Cayman
Limited (“the Grant Thornton or GT liquidators”);

¶ Mr. Ali Malek QC, instructed by Ms. Sarah Dobbyn of
Harneys for the liquidators of SIFCo #5 – (“the Kinetic
liquidators”);

¶ Mr. William Helfrecht of Bodden & Bodden for the
liquidators of the Awal Companies, subsidiaries of Awal
Bank B.S.C. (“the Johnson Smith liquidators”)

¶ [Ms. Charmaine Richter of Appleby for the second
defendant Mr. Al Sanea, who disputes the jurisdiction of
the Court]

CORRIGENDUM TO RULING ISSUED ON 19TH APRIL 2010

¶ On page 66, paragraph 183, line 3, delete the word “objections” and replace it with the
word “obligations”.

¶ Hon. Anthony Smellie
Chief Justice
August 17 2010