London - Following a successful appeal of his bail terms on 2 November 2011, Mr Dahdaleh is not now required to post security nor will he be electronically tagged. A previous hearing had required the posting of £10 million security as a condition of bail.
A spokesman for Allen & Overy, Mr Dahdaleh's lawyers, reiterated: "Mr Dahdaleh believes the investigation into his affairs was flawed and that he has done absolutely nothing wrong. Mr Dahdaleh has not violated the laws of this country or any other country where he does business, including Bahrain. He will be vigorously contesting these charges at every stage, confident of clearing his good name.”
Allen & Overy also noted that on 8 November, the federal court in Pittsburgh re-opened the case filed by Aluminium Bahrain (Alba) against Alcoa and Mr Dahdaleh, alleging that they acted together corruptly to obtain contracts from Alba. As a result of this ruling, Alcoa and Mr Dahdaleh can now file a motion to dismiss the complaint. To date Mr Dahdaleh has not been able to challenge Alba's allegations in court and he looks forward to doing so.
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Notes for Editors: