Al Gosaibi desperate for solution on Dh22.52bn debt | The National:
"Saudi Arabia’s Al Gosaibi group meets creditors in Dubai tomorrow in a crucial attempt to reach agreement on about 23 billion Saudi riyals (Dh22.52bn) of debts that have been hanging over the family-owned partnership since 2009.
About 40 regional and international banks, and other creditors, will hear proposals from Al Gosaibi executives to settle the long-running dispute, which has sparked legal actions across three continents. In total, about 80 institutions are owed money by Al Gosaibi.
If a deal is not reached, the prospects for the decades-old Saudi merchant family look stark."
'via Blog this'
No comments:
Post a Comment