Monday 14 July 2014
 
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Algosaibi

Algosaibi assures banks minimum 20pc recovery

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

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Algosaibi seeks truce in debt dispute

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

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Algosaibi estimates assets at a fraction of claims

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

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Saudi's Algosaibi calls creditor meeting in May

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. Th

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Algosaibi strikes deal with fugitive banker

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.

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US court overturns Algosiabi dispute ruling

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. Mashreq

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Court orders Al-Sanea to pay $2.5bn

A Cayman Court has ordered Maan Al-Sanea to pay the Algosaibi family $2.5 billion, the latest twist in a tortuous legal battle the Saudi billionaire and his in-laws have been waging in courts across the globe since 2009. The judgement will

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Saudi Algosaibi 'wins damages claim'

The Grand Court of the Cayman Islands yesterday granted a default judgment in favour of Ahmad Hamad Algosaibi & Brothers (AHAB) against Maan Al Sanea, said a report. AHAB said it would now push for an assessment of damages for conspira

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UK court lifts $9.2bn Saad asset freeze

A UK court has lifted a freezing order on assets worth $9.2 billion of Maan Al-Sanea, the founder of Saudi Arabia's Saad Group, in what his legal team called a 'significant turning point' in a bitter legal battle wi

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Cayman judge lifts freeze on Al-Sanea assets

A Cayman court has ordered a worldwide freezing order on the assets of billionaire Maan Al-Sanea be lifted, as it assesses new evidence in the Saudi businessman's multi-billion dollar legal battle with his in-laws, the Algosaibi family.

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