AHAB

Ahmad Hamad Algosaibi & Brothers outline comprehensive settlement proposal

AHAB outlines a comprehensive settlement proposal to a group of banks and financial institutions with claims against the company. These asserted by banks, total billions of dollars, arise out of liabilities incurred through a massive fraud perpetrated by Maan Al Sanea in his time a head of the Money Exchange division of AHAB. The liabilities have so far spawned more than 70 lawsuits in at least 10 countries over the past five years.

Saad, AHAB to seek USD 10 bn debt restructuring

Saudi-based Ahmad Hamad Algosaibi & Bros Co (AHAB) said it was about to start talks with creditors, after a newspaper reported it and Saad Group are seeking to restructure USD 10 bn in debt.

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