Kalbian Interviewed by New Yorker Magazine
4/15 — Haig V. Kalbian, Managing Partner, Kalbian Hagerty LLP, was recently interviewed by The New Yorker magazine about a $9 billion civil case involving his client, Glenn Stewart, a California resident and former chief executive of The International Banking Corporation (TIBC), a large bank in Bahrain.
In 2011, Ahmad Hamad Al Gosaibi and Brothers (AHAB) filed a civil suit against Stewart in federal court in Los Angeles seeking $9 billion in damages for fraud, breach of fiduciary duty, and conspiracy (among other claims) under the laws of California, Saudi Arabia, and Bahrain. After nearly two years of hotly contested litigation, Kalbian’s aggressive pretrial tactics forced AHAB to dismiss the case.
The New Yorker story, titled, “Kings of The Desert,” details the dramatic turn of events leading up to AHAB settling the case for no money, vindicating Stewart. “We always said that this case should never have been brought against Glenn Stewart,” said Kalbian. “The fact that the other side walked away from the case speaks volumes.”
The case against Stewart was part of a wider dispute between AHAB and the Saad Group, which had spawned legal battles in London, New York, the Cayman Islands, Saudi Arabia and Bahrain, stemming from about $15 billion of liabilities owed by the two conglomerates. Kalbian Hagerty is an international law firm with offices in Washington, D.C., Abu Dhabi and Dubai. Read The New Yorker story here: http://www.newyorker.com/magazine/2015/04/13/the-kings-of-the-desert