BANKS FILE SUIT AGAINST SAUDI COMPANY
Four international banks have filed
claims for 131.2 mln riyals against the owners of Saudi
construction and trading group Abdulla Fouad and Sons Co,
bankers and lawyers in the Kingdom said.
    Bankers said the suit may prove to be a test case for banks
which have so far been largely frustrated in their attempts to
reclaim loans through the Saudi Arabian legal system.
    Citibank N.A., Bank of America NT and SA, Arab Banking Corp
(ABC) and the Bank of Bahrain and Kuwait (BBK) filed claims
with a special Saudi court under the jurisdiction of the
Ministry of Commerce on March 7.
 Reuter
