Credit Suisse wins $41 mn London lawsuit against Saudi Prince

London, 5/4: Swiss lender Credit Suisse has won a $41 million lawsuit against a member of the Saudi royal family over a loan to refinance a super yacht, with London’s High Court ruling there was no viable defence to the bank’s case.

 

 

Prince Fahad bin Sultan bin Abdulaziz al Saud is liable to pay his company Burgundy Sea Ltd’s debts to Credit Suisse, Judge Robert Bright said in a written ruling.

 

The judge had ruled in Credit Suisse’s favour without a trial at a hearing last month, at which the prince and Burgundy were unrepresented, and published his ruling on Wednesday.

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