Forgot your password?

Back to login

Qatari sheikh racks up millions of dollars in debt
September 22, 2013, 11:38 am

A member of Qatar’s royal family has been ordered pay hundreds of thousands of dollars in fees for legal advice he was given after failing to pay auction houses for winning bids on expensive antiques.

Sheikh Saud bin Mohammed bin Ali Al-Thani must pay $419,400 to SJ Berwin after he never responded to a lawsuit, read a default judgement given at London’s High Court in April, but only just made public.

The prince has originally been sued for £4.1m by the British auction house Bonhams 1793 and for $22m by US-based rare coins deal AH Baldwin & Sons after he failed to pay for items he placed winning bids on.

These bids were made for antiques including an Ancient Greek gold piece worth $3.25m.

A judge in London had frozen assets belonging to Al-Thani, formerly head of Qatar’s National Council for Culture, Arts and Heritage, late last year.

He had previously pledged collectibles, including the world’s most expensive watch, worth close $83m to auction house Sotheby’s in order to cover debts he owed.

Share your views

"It is hard to fail, but it is worse never to have tried to succeed."

"Envy comes from wanting something that isn't yours. But grief comes from losing something you've already had."

Photo Gallery