Logo of Saudi Aramco
Saudi Aramco announced that the Court of Appeals, on Dec. 2, unanimously ruled in its favor in the appeal filed by the heirs of Khalid Al-Qarqani, according to a bourse filing.
Appellants are entitled to seek further review in the Court of Appeals, the US Supreme Court, or both.
On Nov. 17, 2020, the oil producer received a favorable ruling from US District Court for Southern District of Texas on dismissing the case brought by heirs of Khalid Al-Qarqani in their claim to enforce a roughly $18 billion (SAR 67.3 billion) purported foreign arbitral award, Argaam earlier reported.
The dispute subject involved rent payments allegedly due to petitioners for Saudi Aramco’s operations on a land plot in Ras Tanura, Saudi Arabia.
On, Jan. 21, 2021, the company received from the US District Court in Texas a notice of appeal, where the heirs of Khalid Al-Qarqani appealed the trial court’s previous decision on dismissing the claim to the US Court of Appeals for the Fifth Circuit.
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