Saudi businessman al-Sanea seeks last-ditch debt deal- sources | ZAWYA MENA Edition:
"Saudi Arabia's collapsed Saad Group, led by businessman Maan al-Sanea, has called a meeting with creditors in a last-ditch attempt to end a dispute over 16 billion riyals ($4.3 billion) of claims, sources close to the matter said.
Advisers to the group have asked creditors to meet in Dubai over the next few days, seeking a deal before Saudi authorities start auctioning, from March 18, billions of dollars of assets, including machinery, real estate, vehicles, belonging to Maan al-Sanea and his company, the sources added.
Maan al-Sanea, ranked in 2007 by Forbes as one of the world's 100 richest people, was detained in Saudi Arabia's Eastern province last October for unpaid debt. His case is separate from the dozens of Saudi businessmen and prominent figures who have been held in a corruption crackdown."
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