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(Continued from overleaf)
The statement from the Sultan, buried away in the middle pages of one Sunday newspaper, has yet to be received by The Observer or, seemingly, any other newspaper. Just who issued the statement is also unclear as no signed copy of the statement has been produced. It is somewhat unfamiliar for heads of state to communicate with newspapers in such a manner.
The statement says that it is 'completely untrue' that the Sultan of Brunei, reputedly the world's richest man, has provided 'secret financial backing' to the Al-Fayeds for the HoF purchase. But it appears to contradict the statement made by Allen & Overy in one crucial aspect.
Referring to a power of attorney dated 24 August which The Observer had reported related to the Sultan's bank account at Credit Suisse, Zurich, and which preceded the bank transfers mentioned in the du Cann letter, the solicitors state 'no such power of attorney exists.'
However, the Sultan's statement confirms the existence of 'a document dated August 24' and says it is an 'authorisation' which had been 'given to solve a financial matter for His Majesty.' Just what this matter was and why it could involve a sum as substantial as $127 million -- the transfer itself is not denied -- is just one of the more questions than answers provided by last week's statements.
The Al-Fayeds' lawyers made a number of serious allegations to the independent directors of The Observer about this newspaper's coverage of the HoF affair. In particular they question the independence and reporting of Observer journalists. These allegations are unjustified. The Observer is preparing to take legal action over the contents of the letter.
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