Court freezes Al Gosaibi assets - The National

HSBC has won a court order freezing the British and some foreign assets of the ailing Al Gosaibi business empire in Saudi Arabia.

The assets consist mainly of property in London and shares in companies in the Virgin Islands, Channel Islands and Liberia.

HSBC is one of five banks that won a court case in London last month against Ahmad Hamad Algosaibi and Brothers, requiring it to repay some US$250 million (Dh918m) owed to banks.

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