One of the Middle East's longest-running debt disputes edged closer to being resolved on Thursday when Saudi Arabian family conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) presented a revised restructuring plan.
Ahmad Hamad Algosaibi and Brothers (AHAB) has said in a statement that at a court hearing in Bahrain, it has submitted evidence refuting the legal case filed last year by the administrators of The International Banking Corporation (TIBC). The
Ahmad Hamad Algosaibi & Brothers (AHAB) has agreed terms of engagement with the steering committee established to facilitate settlement discussions and negotiations with an overwhelming number of financial institutions with claims against th
Administrators of a collapsed Bahraini bank have filed a $1.9 billion lawsuit against the Saudi conglomerate Ahmad Hamad Al Gosaibi and Brothers (AHAB) caught up in a global fight over massive debts.
Trowers and Hamlins, which has
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
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
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 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
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.
The Saudi Algosaibi family gave up their fight against claims from five banks linked to a high-profile $22 billion feud within their clan over the collapse of their financial empire.
The family's Ahmad Hamad Algosaibi & Brothers (