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

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

The controversy started from here

Sheikh Hamad bin Abdullah Al Thani's company QIPCO owns a diamond called '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 Qatar's Minister of Culture between 1997 and 2005. He bought the Idol's Eye diamond in the early 2000s. He died in 2014. Shortly before his death, he lent this diamond to Sheikh Hamad bin Abdullah's company QIPCO. During this time, he also signed a contract in which QIPCO was given the option to buy the diamond with the consent of Allens Holdings, which was ultimately a company linked to Sheikh Saud's relatives.

Sheikh Saud's company Ellens Holdings gave the diamond to QIPCO. Ellens Holdings is now owned by the Liechtenstein-based Al Thani Foundation, whose beneficiaries are Sheikh Saud's widow and three children. Ellens argues that the letter was sent by mistake. Ellens' lawyer Saad Hussain 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 did not consult with the foundation's other beneficiaries.

There is no agreement between both the parties regarding the price of the diamond

Now QIPCO wants to buy this diamond for $10 million and on this issue, QIPCO's lawyers say that the lawyer of Al Thani Foundation had agreed to sell the Idol Eye diamond for $10 million in a letter dated 2020, but Allens Holdings says that the price of this diamond is being underestimated and its real price is $27 million.