Sunday 20 April 2014
 
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TIBC

Collapsed Bahraini banks seek debt deal

A multi-billion dollar financial dispute that followed the collapse of two Bahraini banks continues to make ripples around the world.    Now, more than four years later, some creditors are being offered a fi

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Saad boss facing charges in Bahrain

Bahrain is pressing charges against Saudi businessman Maan Al-Sanea, the first time any of the players in a multi-billion dollar row with the Algosaibi family face the prospect of trial in a criminal court.    Al-Sanea is o

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TIBC administrator 'wins access to key account'

Trowers & Hamlins, the international  law firm appointed as external administrator of The International Banking Corporation (TIBC) by the Central Bank of Bahrain (CBB), has won access to key financial information about the operation of a

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$720m claim filed against AHAB in TIBC case

Trowers & Hamlins, the law firm appointed as external administrator of The International Banking Corporation (TIBC), has filed a $720 million foreign exchange claim against Ahmad Hamad Algosaibi & Brothers (AHAB) at the Saudi Arabian

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Ex-Bahrain banker files UN complaint over travel ban

The former chief executive of Bahrain-based bank TIBC has filed a complaint at the United Nations against Bahrain for being prevented from leaving the kingdom for over 10 months, his lawyers said. Glenn Stewart, a US citizen who is now bac

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TIBC creditors get update on progress

Trowers & Hamlins, the international law firm appointed as external administrators of The International Banking Corporation (TIBC), updated TIBC creditors on the progress in the case. The meeting was called to update creditors on the a

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TIBC administrator clarifies on probe report

Trowers & Hamlins, the international law firm appointed as external administrator of The International Banking Corporation (TIBC) by the Central Bank of Bahrain (CBB), has clarified that, contrary to certain recent media reports, it has not un

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Bahrain banker held over suspected fraud

A senior bank executive in Bahrain has been arrested on suspicion of embezzling millions from his own institution, which is already in the midst of an international financial dispute, sources confirmed. The defendant, a top official at the

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New York court rules in favour of TIBC

Trowers & Hamlins, the international law firm appointed as external administrator of The International Banking Corporation (TIBC) by the Central Bank of Bahrain (CBB), yesterday welcomed a US Bankruptcy Court ruling related to TIBC. Th

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Awal cancels contracts of 28 employees

Awal Bank has paid off 28 of its 54 employees just a week after The International Banking Corporation (TIBC) cut its workforce by 21 people to just 20 members of staff. Both banks were put into administration by the Central Bank of Bahrain

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