Sun, 2019-03-10 00:08
ALKHOBAR, Saudi Arabia: A Saudi court has approved an application by billionaire Maan Al-Sanea and his company, Saad, to have their case resolved through the Kingdom’s new bankruptcy law.
The ruling could provide a resolution to one of Saudi Arabia’s longest-running debt sagas.
Saad, with interests from banking to health care, defaulted together with another conglomerate, Ahmad Hamad Al-Gosaibi and Brothers, in 2009, leaving banks with unpaid debts of about $22 billion.
Main category:
from ArabNews https://ift.tt/2VMxJhF
0 Comments