Court rules in favor of Saudi Aramco in appeal filed by Khalid Al-Qarqani heirs

Logo of Saudi Aramco 

Saudi Aramco announced that the Court of Appeals, on Dec. 2, unanimously ruled in its favor in the appeal filed by the heirs of Khalid Al-Qarqani, according to a bourse filing. 

Appellants are entitled to seek further review in the Court of Appeals, the US Supreme Court, or both. 

On Nov. 17, 2020, the oil producer received a favorable ruling from US District Court for Southern District of Texas on dismissing the case brought by heirs of Khalid Al-Qarqani in their claim to enforce a roughly $18 billion (SAR 67.3 billion) purported foreign arbitral award, Argaam earlier reported.

The dispute subject involved rent payments allegedly due to petitioners for Saudi Aramco’s operations on a land plot in Ras Tanura, Saudi Arabia.

On, Jan. 21, 2021, the company received from the US District Court in Texas a notice of appeal, where the heirs of Khalid Al-Qarqani appealed the trial court’s previous decision on dismissing the claim to the US Court of Appeals for the Fifth Circuit.