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Aboualsaud v Aboukhater & Anor [2007] EWHC 2122 (QB) (19 September 2007)

Mr Waleed Aboualsaud, the Claimant, claims �21.5M commission from the Defendants on the sale of the Monte Carlo Grand Hotel to FHR European Ventures LLP on 22nd December 2004. The entitlement to commission arises, the Claimant claims, by virtue of an oral agreement made between him and the First Defendant, Bassam Aboukhater, in various meetings and telephone calls in late November or early December 2002. That oral agreement, which was made by the First Defendant on his own behalf and on behalf of his father Toufic Aboukhater, was a binding oral contract under the terms of which the Claimant was to be paid commission if he introduced a party to the Defendants who went on to purchase the hotel for a price which was acceptable to them. This, the Claimant contends, he achieved by introducing HRH Prince Al Waleed bin Talal bin Abdulaziz al Saud (the Prince), whose group of companies, referred to in this judgment as Kingdom, was one of the members of the joint venture FHR European Ventures LLP which purchased the hotel. The introduction of Kingdom to the Defendants occurred on 5 December 2002 and led to a letter of intent by them to purchase the hotel for US $215M on 21 March 2003. After a meeting on 9 May 2003 this deal did not go ahead but, the Claimant contends, the introduction remained the effective cause of the eventual purchase of the hotel on 22 December 2004.

http://www.bailii.org/ew/cases/EWHC/QB/2007/2122.html

seen at 03:12, 29 September in BAILII - Recent Decisions (All cases).
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