JPMorgan and missing company settle $ 55 million loan asset battle


By Silvia Martelli (November 25, 2021, 12:56 GMT) – A missing investment firm once controlled by the family conglomerate of a Saudi billionaire billionaire has reached a deal to end his $ 55 million lawsuit, which targeted the property of assets pledged as loan collateral against a subsidiary of JPMorgan and an insolvent bank based in Bahrain

Judge Richard Meade on Tuesday signed an agreement in a High Court consent order, which has now been made public. The order resolves a case brought by the liquidators of Saad Investments Co. Ltd. of Saudi billionaire Maan Al Sanea v JPMorgan International Bank Ltd. and Awal Bank BSC.

The liquidators had requested a declaration that Saad had the right …

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