SCA 34265623/2013
Type
Case
Court
Saudi Arabian Court of Appeal
Jurisdiction
Saudi Arabia
Taxonomy
Jurisdiction & Choice of Law, General Commercial Law, General Local Government, Central Government
Copyright
LexisNexis
Decision date
21 May 2013
Catchwords
Investment – Jurisdiction – Prohibition of Investment by public departments
The original dispute involved a damage claim by a businessman against the Chairman of the Chamber of Commerce. It was claimed the parties had agreed to establish a commercial company but the businessman had made losses after the Chairman of the Chamber of Commerce had decided to increase the share price and a number of investors had withdrawn their investments. The Chamber of Commerce disputed the case because the Chairman had been involved in the transaction in a personal capacity and the Chamber was not allowed to practice trade. The Court of Appeal initially rejected the appeal on procedural grounds as the case had not been properly registered and jurisdiction had not been taken into account. It was returned to the General Court who upheld their initial ruling and the Court of Appeal subsequently upheld this.
Background