Saudi's Saad Group and creditors select advisers in bid to resolve debt dispute | Reuters:
Saad Group and bank creditors of the Saudi Arabian conglomerate have both selected advisers in a bid to try to reach a deal that could help end the kingdom’s largest and longest-running debt dispute, financial sources said on Thursday.
The appointments of London-based Orchard Corporate Strategy by Saad and EY by creditors, is the latest attempt to reach an agreement that will be complicated by an ongoing auction of the company’s assets.
One of the sources said creditors were seeking to engage with the court overseeing an auction process to try to avoid a fire sale of assets and disorderly liquidation of the company in order to secure a better deal for creditors.
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