By Claire Ferris-Lay
No details given of scrapped case, which had accused Saudi of funding al-Qaeda
Lloyd’s insurance syndicate that launched a legal case accusing Saudi Arabia of
indirectly funding terror group al-Qaeda, has withdrawn its lawsuit, it was
Brighton-based Lloyd's 3500 syndicate, which was seeking the repayment of $215m
it paid out to victims of the 9/11 attacks, has dropped the case without
stating the reasons behind decision, The Tribune-Democrat of Johnstown
instructed to make no comments, other than to say the lawsuit was voluntarily
dismissed,” Lloyds attorney Stephen Cozen said.
was dismissed “without prejudice,” said the newspaper.
of the case, which alleged Saudi Arabia used “agents and alter egos” in the
form of banks and charities to fund the right-wing Islamist group, were
released on Sept 19.
accused nine defendants - including Saudi’s largest lender, National Commercial
- of “knowingly” providing resources and funding to aid the Osama bin Laden-led
terrorist group. Among those
legal claim, filed in federal court in Pittsburgh, alleged this “lavish
sponsorship” directly helped enable the 9/11 terror attacks, which killed
nearly 3,000 people.
development into a sophisticated global terrorist network was fueled primarily
by the massive support it received from purported charities acting as agents
and alter-egos of the government of the Kingdom of Saudi Arabia,” the document
the sponsorship of al-Qaeda's material sponsors and supporters, including the
defendants named therein, al-Qaeda would not have possessed the capacity to
conceive, plan and execute the 11 September attacks.”
Arabia has long denied offering any practical or financial support to al-Qaeda
and a US government report on 9/11 found no evidence the Gulf state’s
government had aided the terrorist cell.
As I commented earlier, this lawsuit was going nowhere fast. No reasonable evidence can be presented by Lloyd's, and no Federal Judge would like to try this case. I guess good news to the Saudis Lloyd's dismissed the case â€œwithout prejudice,â€
I'm willing to bet in the coming 30 days we see Lloyds MENA operations taken over by a GCC based bank, probably Saudi.