Creditors look to sell Saudi Arabia's Al-Gosaibi debt on rising price- sources | ZAWYA MENA Edition:
"Bahrain-based Gulf International Bank (GIB) has sold its 513.6 million riyals ($137 million) claim against Ahmad Hamad Al-Gosaibi and Brothers (AHAB), which has been locked in a near decade-long dispute with creditors, sources told Reuters. And now Standard Chartered, Dubai-based Emirates NBDand Bahrain's Arab Banking Corporation ABCB.BH are also seeking to sell AHAB debt totalling around 2.24 billion riyals, the financial sector sources said. AHAB and Saad Group both defaulted in Saudi Arabia's biggest financial meltdown in 2009, with international and regional banks and other creditors owed about $22 billion."
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