Court throws out Johnny Saadé’s claims for a stake in CMA CGM

Cairo: A court in Lebanon has thrown out a claim by Johnny Saadé to get a slice of CMA CGM. Johnny Saadé is the brother of Jacques Saadé, the founder and chairman of the French containerline. He has been fighting to get a slice of the firm in various courts around the world including in France and Syria.

Yesterday the Court of Beirut decided to suspend the execution of the judgment of the Court of Appeal of Damascus in the litigation initiated by Johnny Saadé. The brothers have been feuding for decades for control of the container major.  [16/12/14]

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