Creditors of Saad Investments Company Ltd held their first official meeting on Thursday, accountancy firm Grant Thornton said, taking a next step in the troubled firm's restructuring process.
Banks are seeking repayment of a loan of up to $2.8 billion taken out in 2007 by Cayman Islands-registered SICL, a unit of Saudi investment firm Saad Group.
The meeting took place in the Cayman Islands, SICL's court-appointed liquidator Grant Thornton said in a statement.
We hope this will be the useful effort for restructuring the getting down companies.
ReplyDeleteThis effort will help lot of companies, Good news for these companies.
ReplyDeleteRestructuring the troubled firms is always a difficult task to do. After all its one of the appreciate able step from the company.
ReplyDeleteThis help would rebuild the lot of companies, We hope this effort will give the better results.
ReplyDeleteLet us congratulate the Saad Group going for the next step in restructuring the troubled firms.
ReplyDeleteDoes Saad Group deals in helping the troubled firms in restructuring.
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