2 royal families of Qatar came face to face for diamonds worth crores, the case reached London High Court, know why

Qatari Royals Fight in UK Court: Two members of Qatar’s royal family have turned against each other. Both of them reached the London High Court on Monday (11 November 2024) in the dispute over diamonds worth millions of dollars. Now the court will decide this dispute. Both sides are blaming each other.

In fact, Sheikh Hamad bin Abdullah Al Thani, cousin of Qatar’s ruler Sheikh Tamim bin Hamad Al Thani, has filed a case against the relatives of former Culture Minister Sheikh Saud bin Mohammed Al Thani. A company owned by Hamad bin Abdullah is trying to enforce its alleged right to buy the 70-carat gem.

The controversy started from here

Sheikh Hamad bin Abdullah Al Thani’s company QIPCO owns a diamond named ‘Idol’s Eye’. Its value is said to be in millions of dollars. This diamond was lent to him by Sheikh Saud. Sheikh Saud was the Culture Minister of Qatar between 1997 and 2005. He had purchased Idol’s Eye diamond in the early 2000s. He died in 2014. Shortly before his death, he had lent this diamond to Sheikh Hamad bin Abdullah’s company QIPCO. During this time, he also entered into a contract in which QIPCO was given the option to purchase the diamond with the consent of Elanus Holdings, which was ultimately a company linked to Sheikh Saud’s relatives.

Sheikh Saud’s company Ellenus Holdings had given this diamond to QIPCO. Elenus Holdings is now owned by the Liechtenstein-based Al Thani Foundation, whose beneficiaries are Sheikh Saud’s widow and three children. Allens argues that the letter was sent by mistake. Allens lawyer Saad Hussein said in court filings that Sheikh Saud’s son Sheikh Hamad bin Saud Al Thani had only sought to explore the possibility of a sale at the right price, but had not consulted with the foundation’s other beneficiaries.

There is no agreement between the two sides regarding the price of diamond

Now QIPCO wants to buy this diamond for 10 million dollars and on this issue, QIPCO’s lawyers say that in the letter of 2020, the lawyer of Al Thani Foundation had agreed to sell the Idol Eye diamond for 10 million dollars, but Elenus Holdings It is said that the value of this diamond is being underestimated and its true value is 27 million dollars.

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