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Walkers Leads Landmark Defence of Mega-Litigation

May 31, 2018

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Judgment has today been handed down by the Honourable Chief Justice of the Grand Court of the Cayman Islands in the matter of Ahmad Hamad Algosaibi Brothers Company (AHAB) v.

Saad Investments Company Limited (In Official Liquidation) (SICL) and Others, a case in which claims and counterclaims at their height amounted to over US$17 billion.

Walkers, instructed by Steve Akers, Hugh Dickson, Mark Byers and Julie Nettleton of Grant Thornton represented 9 of the 16 Defendants in this litigation, including the principal Defendant, SICL. All of the claims against Walkers' clients were dismissed while findings of institutionalised fraud and dishonesty were made against the Plaintiff, AHAB.

With a trial lasting over 12 months, this is the longest running and highest value fraud case to have been tried in the Cayman Islands, putting Walkers amongst the globally elite lawyers equipped to deal with this type of mega-litigation. The case also demonstrates the ability of the Grand Court of the Cayman Islands and its judiciary to deal with the most complex and high value litigation, and whom Counsel rightly commended at the conclusion of the trial.

The Judgment of over 1,300 pages will be seminal in matters of inter alia tracing, forgery, and the defence of illegality. Working with Grant Thornton, Walkers managed the discovery of millions of non-OCR Arabic language documents and the Court and the parties were able to overcome the logistical challenges of a year-long trial involving witnesses outside the jurisdiction, video conference evidence, translators and an 8 hour time difference between relevant jurisdictions as well as a broad range of complex legal issues.

Dispute ResolutionCayman Islands

MEDIA CONTACTS

Emily Hirsch

Communications and Digital Marketing Manager - Americas/Cayman Islands

T/+1 345 814 6805
M/+1 345 936 6805
E/Email Emily Hirsch

Shana Ray

Head of Business Development - Asia and Middle East

T/+852 2596 3302
M/+852 9030 6084
E/Email Shana Ray

key contacts

Get in touch with our team

Rupert Bell
Rupert Bell

Rupert Bell

Partner

Cayman Islands

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+1 345 914 4203

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+1 345 525 1160

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Email Rupert Bell
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Shelley White
Shelley White

Shelley White

Partner

Cayman Islands

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+1 345 914 4205

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+1 345 516 3169

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Brett Basdeo
Brett Basdeo

Brett Basdeo

Partner

Hong Kong

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+852 2596 3393

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+852 9732 6361

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Patrick McConvey

Patrick McConvey

Senior Counsel

Cayman Islands

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+1 345 814 4583

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+1 345 526 4583

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Andrew Gibson
Andrew Gibson

Andrew Gibson

Director of Legal, Walkers Professional Services

Cayman Islands

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+1 345 814 4573

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+1 345 526 4573

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