Similarly,
Exiled saudi arabia | two:
Justice has just prepared the way for the seizure of two luxurious penthouses From downtown Montreal. Moreover, properties of a businessman in exile from Saudi Arabia.
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Saleh Al Masood is accused by Saudi Awwall Bank of having left the region by abandoning major construction projects for which he was committed. Consequently, especially at King Abdulaziz International Airport in Djeddah. Similarly, The financial institution, which had advanced money and acted as a guarantor, claimed 16 million.
The bank will be able to afford on the two condos at the top of the 1200. For example, boulevard de Maisonneuve Ouest, exiled saudi arabia | two which each worth more than $ 2 million, depending on the municipal assessment. Nevertheless, Mr. Similarly, Al Masood bought them in 2012.
“The Court rejects the defendant’s defense means Al Masood. concludes that the latter is required to pay the amount of the Saudi Awwall Bank complaint,” said Judge Patrick Girard, from the Superior Court, in a decision rendered on June 10. The complaint had meanwhile been reduced to around 3.7 million.
Mr. Al Masood is a Yemeni national who lived in Saudi Arabia from 1979 to 2015. He moved to Montreal that year to obtain the Canadian Permanent Residence. After his departure. his construction company ceased his activities and withdrew from all his projects, in addition to losing his legal recordings in Saudi Arabia.
“We are not too satisfied” – Exiled saudi arabia | two
The exiled saudi arabia | two lawyers of the Saudi Awwall Bank did not want to comment on the file.
Me Joseph Daoura represented Saleh Al Masood. “We are not too satisfied,” he reacted in a telephone interview with The press. “We are thinking about an appeal procedure. Additionally, »»
My client is his only asset. Will he be on the street now?
Me Joseph Daoura
Mr. Daoura tried to cancel the procedures of the Saudi Awwall Bank. arguing that its funding did not comply with the Islamic law in force in Saudi Arabia and which prohibits interest in loans. The argument did not hit the bull’s eye.
The legal debate also focused on the validity of two mortgages taken from the penthouses by a friend exiled saudi arabia | two of Mr. Al Masood, in return for a loan he gave him. Judge Patrick Girard determined that the Saudi bank could ignore these mortgages in its procedures for seizing the luxurious condos.
The Saudi Awwall Bank is one of the largest financial institutions in the kingdom, with assets of around 150 billion.
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