Saudi Arabian family conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) is offering creditors a minimum return of 28 cents on every dollar owed under an enhanced proposal to end one of the Middle East's largest ever debt restructurings.
Saudi Arabia's Ahmad Hamad Algosaibi and Brothers (AHAB) said on Tuesday it will put an improved offer to its creditors in the coming weeks in a fresh attempt to reach a settlement.
The family conglomerate collapsed in 2009 al
A Bahrain-based travel agency has launched what it claims is a first-of-its-kind travel portal for the region, pitting it against the likes of bookings.com.
“BookNow.bh only offers quick and easy access to the very best deal
A steering committee of creditors of Saudi Arabian conglomerate Ahmad Hamad Algosaibi and Brothers (Ahab) has been formed to negotiate its debt restructuring, Algosaibi said on Tuesday.
The committee comprises representatives from
Saudi Arabian family conglomerate Ahmad Hamad Algosaibi & Brothers (AHAB) today outlined a comprehensive settlement proposal to a group of banks and other financial institutions with claims against it that would see them repaid a minimum of
Long-stalled talks on one of the Middle East's largest debt restructurings are due to resume in Dubai on Wednesday, though those involved in the process are cautioning any agreement to pay out even a small amount of the cash owed to creditor
Saudi Arabian conglomerate Ahmad Hamad Algosaibi & Brothers (AHAB) estimates its assets are worth less than a quarter of about $5.9 billion in claims made against it, a spokesman said as the group prepares a proposal to end one of the Middle
Saudi Arabian conglomerate Ahmad Hamad Algosaibi & Brothers has called a meeting of creditor banks in Dubai on May 7 to discuss a proposed settlement of billions of dollars of unpaid debt, commercial bankers said on Monday.
Ahmad Hamad Algosaibi and Brothers Company (AHAB) said that it had struck a deal with a former Bahrain resident in a move to recover billions of dollars, which were allegedly siphoned off in a massive fraud involving banks in Bahrain.
A ruling that a dispute involving Ahmad Hamad Algosaibi and Brothers Company (AHAB), Maan Al Sanea and Mashreq Bank could not be heard in a New York court has been overturned by the state's appeal court, a report said.