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| 24 May, 2018

Saudi courts recover $3.4bln after enforcing foreign rulings

The rulings came from foreign arbitration committees and courts concerning individuals, companies and entities inside Saudi Arabia

Image used for illustrative purposes.  Saudi Arabia Monetary Authority (SAMA) continues to tighten compliance in the insurance sector. Image for illustrative purposes.

Image used for illustrative purposes. Saudi Arabia Monetary Authority (SAMA) continues to tighten compliance in the insurance sector. Image for illustrative purposes.

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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.

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