Alleged Saudi Heirs Ask 5th Circuit To Reverse Denial Of Bid To Confirm $18B Award

Mealey's (March 17, 2021, 12:17 PM EDT) -- NEW ORLEANS — The alleged heirs of a Saudi sheikh write in a March 15 appellant brief to the Fifth Circuit U.S. Court of Appeals that a district court reversibly erred by denying their petition to enforce an arbitral award worth approximately $18 billion against a Saudi oil company for the use of Saudi oil fields under a 1933 concession agreement and also say the court abused its discretion by striking their motion for reconsideration...