Saudi courts recover $3.4bn after enforcing foreign rulings

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Time: May 23, 2018

JEDDAH: Saudi enforcement courts have recovered more than $3.4 billion after imposing a number of foreign rulings.

The rulings came from foreign arbitration committees and courts concerning individuals, companies and entities inside the Kingdom.

The most recent one came from a court in Virginia, forcing a Saudi tourism company to pay $3,758,000 (SR14 million) to a US company.

“We have received more than 400 applications from a number of applicants who are following up on foreign rulings implementation. The enforcement courts are working hard to process them and enforce the rulings, whether they are concerning individuals, investors, companies or other institutions,” the ministry said.

This article was first published in Arab News

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