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Courts in both New York and the Cayman Islands have dismissed lawsuits related to the dispute between family-owned Saudi Arabian conglomerates Saad Group and Ahamad Hamad Algosaibi and Brothers.

Saad Group, the Saudi Arabian conglomerate owned by Maan Al Sanea, was yesterday ordered to pay $33.1 million to Abu Dhabi Commercial Bank for defaulting on a currency swap agreement.

Liliane Bettencourt, L’Oreal heiress and France’s richest woman, was questioned on Monday by French police as part of an ongoing investigation into her finances.

The Stronach family, founders and controlling shareholders of Cananda-based Magna International, could relinquish more than 40 years of control today when shareholders vote on whether to eliminate the company’s dual share structure.

On the surface family feuds don’t look so good for business. They mean decisions are often put off as family energies get diverted to emotional disputes, not the running of the company, writes David Bain

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