Saudi Arabia urges Al Gosaibi creditors to file claims | The National:
"The Saudi Arabian government has urged local creditors to the troubled Al Gosaibi family to enter claims against the family or be ruled out of any settlement process.
On the orders of a special tribunal in the Al Gosaibi’s headquarters of Al Khobar, Ahmed Hamed Al Gosaibi and Brothers (Ahab), the partnership that runs the family conglomerate, placed advertisements in Saudi papers asking potential claimants to come forward.
The wording of the ads makes it clear that, unless Saudi banks – owed about US$2 billion by the family – agree to be part of the process, any further claim will not be considered. “Please note that the distribution of creditor funds will be limited only to the applications made in accordance with [Saudi legislation governing enforcement of legal decisions]," said the ads in three newspapers."
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