|11-03-2014, 06:35 AM||#1|
Barclays sued by Saudi Real Estate Company
Barclays Plc was sued by a Saudi real estate company, MBI International Holdings Inc, for dropping its quest for lease installments for lodging mixes for U.S. resistance builders to secure a neighborhood keeping money permit.
The London-based MBI, owned by Saudi Arabia’s second-richest man, Mohamed bin Issa al Jaber, is seeking actually $10 billion from Barclays in the suit.
“Barclays was under a duty to pursue claims against the Saudi government for payments owed to Jadawel International,” MBI said in its suit.
“Instead, Barclays betrayed its duty in order to obtain for itself a rare and lucrative license to conduct banking activity in Saudi Arabia,” MBI added.
The suit was made public today in New York State Supreme Court in Manhattan as Barclays for publicly affirmed today that the suit has no foundation and is ready to defend itself in court.
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