Kuwait's Khorafis win Dubai judgement vs Bank Sarasin
DUBAI Aug 21 (Reuters) - A court in Dubai's financial centre ruled in favour of Kuwait's Khorafi family in a suit against Switzerland's Bank Sarasin over about $200 million of investments that went bad, court officials said on Thursday.
The Dubai International Financial Centre court found Sarasin mis-sold unsuitable investments to family members in 2007 and 2008, and should pay compensation to the family, deputy chief justice John Chadwick said.
No figure for compensation was set but the family has been claiming over $26.5 million. Sarasin has 14 days to appeal, court officials said. (Reporting by Matt Smith; Writing by Andrew Torchia, editing by Sami Aboudi)