Lloyds of London sues Saudis for 9/11 attacks. This lawsuit, filed Sept 08, 2011, has been withdrawn as of Sept 19. It may be refiled. The lawsuit was filed on Sept. 8 at the U.S. District Court for the Western District of Pennsylvania. The insurer charged that Saudi defendants knowingly provided material support and resources to al Qaida in years leading up to 9/11. The 154-page complaint described links between Saudi charity organizations and al Qaida and explained how the Saudi government supported al Qaida through these charity organizations. Pursuant to the terms of the applicable policies of insurance, Lloyds Syndicate 3500 made 9/11-related claims payments on behalf of its liability insureds towards the individual settlements in an amount in excess of $215 million, according to the court documents. These liability insureds included airlines, airport authorities, security companies, airplane manufacturers and other parties. Those who received settlements included individuals injured from the 9/11 attacks and families of individuals killed in the attacks, as well as businesses that suffered economic losses. Defendants named in the complaint were Kingdom of Saudi Arabia, The Saudi High Commission for Relief of Bosnia & Herzegovina, Saudi Joint Relief Committee for Kosovo and Chechnya, Saudi Red Crescent Society, National Commercial Bank, Al Rajhi Banking and Investment Company. Also included as defendants are three Saudi citizens connected to these organizations, Prince Salman Bin Abdul Aziz Al Saud, Suleiman Abdel Aziz Al Saud and Yassin Al Qadi. The case is Underwriting Members of Lloyds Syndicate 3500 v. Kingdom of Saudi Arabia, 11-00202, U.S. District Court, Western District of Pennsylvania. This should be interesting ... Source
