Billionaire Saudi prince loses UK court battle over Gaddafi jet
LONDON (REUTERS) - A billionaire Saudi prince lost a London court battle on Wednesday when a judge ordered that he should pay a US$10-million (S$13 million) commission linked to the sale of a luxurious private jet to former Libyan leader Muammar Gaddafi.
The High Court ruling is an embarrassment for Prince Alwaleed bin Talal, a nephew of Saudi Arabia's King Abdullah, who gave evidence in person for two days at the trial earlier this month.
The prince was being sued by Daad Sharab, a Jordanian businesswoman who said she was not paid any commission for brokering the sale of the jet to Gaddafi, which was completed in 2006 for US$120 million.
The prince's defence was that there was no agreement to pay a UD$10-million commission but rather that Sharab would be paid"at his discretion".