Legal
Saudi Family Sues JP Morgan in Jersey

A civil trial in the Channel island of Jersey could become the longest and costliest in the UK dependency's judicial history.
The action is being brought by members of the Saudi Arabian
Alhamrani family, who run a group of industrial companies in
Saudi Arabia, against JP Morgan ( Jersey) Trust. It centres
around two trusts set up in Jersey in 1998 to hold most of the
Alhamrani family's foreign investments.
Sheikh Mohamed Ali M Alhamrani heads the plaintiffs and is
bringing the action with four of his brothers, alleging breach of
trust, conflict of interest, gross negligence, and lack of
communication between trustee and beneficiaries.
There are also similar complaints against Sheikh Mohamed's
younger brother, Sheikh Abdullah Ali M Alhamrani, who is
protector of the trusts. JP Morgan ( Jersey) Trust and Sheikh
Abdullah deny these complaints.
In addition there are claims by the plaintiffs against a
local trust company called Russa Management, which are also
denied. To date, the claims with interest exceed $120
million.