Monday 28 July 2014
 
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Maan Al-Sanea

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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Saudi group files $10bn suit against Saad chief

Saudi Arabia's indebted family conglomerate Algosaibi has filed a lawsuit in New York alleging $10 billion in loan irregularities involving billionaire Maan al-Sanea, the head of the Saad Group, the Financial Times reported on Friday.

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