Al Gosaibis seek Saudi consent to settle dispute over $6bn debt | The National:
"The Al Gosaibi family of Saudi Arabia is to seek the blessing of the kingdom’s authorities for its proposals to settle the six-year dispute with creditors over its US$6 billion of debts by the end of this year.
Ahmed Hamed Al Gosaibi & Brothers (Ahab), the family partnership that owes the money after the collapse of its business in a storm of accusations in 2009, presented updated proposals to international claimants at a special meeting in Dubai yesterday and mapped out the steps towards implementation of the plan.
A statement from the company said: “Ahab has invited claimants into a process to agree the amounts of their claims so they may be presented to the judicial authorities in Saudi Arabia together with the settlement agreement. This will allow all parties to enter into a comprehensive agreement.”"
'via Blog this'
No comments:
Post a Comment