Saudi prince loses £6.5m Gaddafi claim
Wednesday 31 July 2013
A billionaire Saudi prince has lost a High Court fight with a Jordanian businesswoman.
Businessman Prince Al-Waleed Bin Talal Bin Abdul-Aziz Al-Saud, who owns The Savoy hotel in London, became embroiled in a dispute after selling an airliner to the former Libyan leader Muammar Gaddafi. Consultant Daad Sharab sued, claiming that the Prince owed her about £6.5m commission for the part she played in the airliner deal. The Prince disagreed.
Judge Mr Justice Peter Smith ruled against the Prince after a hearing in London.
Ms Sharab said the Prince agreed to pay the commission in 2005 following a meeting in Colonel Gaddafi's tent in Libya.
Prince Waleed disputed her claim, at a trial in London earlier this summer, and denied that any agreement was made for a "specific commission".
The judge said the dispute turned on whose evidence he accepted. He said the Prince and Ms Sharab had given evidence and he had "overwhelmingly concluded" that he preferred Ms Sharab's case.
She said after the ruling that she was relieved, adding: "Today's decision has reinforced my belief in the fairness and impartiality of the English courts."
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