The National reports that Saudi private equity group, Amwal AlKhaleej, is suing the Abdullah Brothers for US$ 22 million over the Brothers failure to pay for some 22 million shares in Amwal AlKhaleej they agreed to purchase in June 2008.
Apparently, Amwal transferred the shares before getting the cash.
A payment plan agreed in November was not honored by the Abdullahs.
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2 comments:
It's Amwal, by the way :)
Anonymous
Thanks very much.
I really don't have a good explanation except lack of proper attention to detail.
Though I suppose I could say it was the news about the new surfing school in Bahrain had me thinking about waves.
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