Friday 30 September 2016
 
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AHAB

Algosaibi signs debt restructure deal with steering group

Ahmad Hamad Algosaibi and Brothers (Ahab) has signed a deal with a committee representing creditor banks to restructure the Saudi Arabian family conglomerate's debt pile, it said in a statement on Monday. This is the latest mo

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Algosaibi to acknowledge claims for settlement

Ahmad Hamad Algosaibi & Brothers (Ahab) has recently written to a large number of financial institutions with claims against it to confirm the amounts that Ahab is willing to acknowledge for the purposes of the settlement process it initiate

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End to Saudi Algosaibi debt saga inches closer

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.  

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AHAB submits evidence over dispute

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

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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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