Friday 24 October 2014
 
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AHAB

Ahab agrees terms with debt restructuring committee

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

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New $1.9bn lawsuit filed against Al Gosaibi

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

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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 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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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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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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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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Algosaibis drop defence against banks' claims

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 (

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Bahrain frees UK bankers in Saad case

Bahrain has released four Britons held in the country for 18 months after the banks they worked for collapsed, in a meltdown that has caused a multi-billion dollar row between two Saudi families. The four - who worked at banks related to t

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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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