Decade-long Saad litigation settled between AHAB and Grant Thornton Defendants

After over 11 years of litigation, Walkers Cayman is pleased to announce that Walkers' clients, the Grant Thornton Defendants, have reached a confidential settlement with AHAB which results in their release from the AHAB v. Saad Investments and Others proceedings in the Cayman Islands.

The proceedings were commenced in the Grand Court on 24 July 2009. The trial took over a year and was heard by Chief Justice Smellie from July 2016 to July 2017. In his judgment of over 1,300 pages, which was handed down on 31 May 2018, the Chief Justice dismissed all of AHAB's claims against the GT Defendants. AHAB appealed that judgment and its appeal was heard in May and June 2019. No judgment in the appeal has been delivered.

The case continues against the other Defendants in the case.

Walkers is delighted with this outcome and is proud to have been involved in an such extraordinary case from commencement to conclusion. We are also privileged to have worked alongside the exceptional team from Grant Thornton Cayman and Grant Thornton UK LLP.