A Manhattan judge has ruled that a $33 million judgment entered by an English court against a Saudi Arabian company can be enforced in New York even though the New York court has no basis for personal jurisdiction.
The case, Abu Dhabi Commercial Bank v. Saad Trading, Contracting & Financial Services, 652191/11, revolves around a currency swap agreement between United Arab Emirates-based Abu Dhabi Commercial Bank and Saad Trading, a division of Saudi conglomerate Saad Group.
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