LBC’s Daher wins arbitration against Prince al-Waleed
March 1, 2019
By Chris Forrester
A 10-year battle between two Middle East media giants has resulted in victory for LBC International’s Pierre El Daher against billionaire Prince al-Waleed bin Talal and others. Beirut Judge Fatima Al-Jouni ruled to drop all charges against LBCI chairman Pierre Daher while calling on his rivals to incur all legal fees.
It is just the latest legal decision in favour of Daher. Recently a Beirut Judge Fatima Al-Jouni ruled that the ‘Lebanese Forces’ were wrong to claim ownership of some Daher assets and must drop all charges against LBCI chairman Pierre Daher while calling on his rivals to incur all legal fees.
LBCI, in a statement, said: “The companies of Saudi Prince al-Walid Bin Talal lost against Pierre El Daher in a personal lawsuit that was filed by the prince’s companies before the ICC International Court of Arbitration in Paris concerning services provided by El Daher in respect to Rotana TV, LMH, LBC+ and LBCSAT.”
“Three international arbitrators rebutted how Rotana Group, owned by al-Walid, planned to own other companies without settling the full capital amount, revealing a series of evidence of manipulations and wrongdoings by al-Walid’s companies.”
The statement continued, saying: “The decision was issued, relieving Pierre El Daher of any responsibility, and holding al-Walid’s companies fully accountable. The wrongdoings committed by al-Walid’s companies have been so far proven by five international decisions, one in Britain, on in the Caymans and three by the ICC. Despite these awards and decisions, the Saudi prince’s companies continue to file lawsuits against El Daher and LBCI.”
However, Daher’s opponents can appeal.