Saudi court issues final order on AHAB ending 12-year debt dispute | Reuters
A Saudi court on Sunday issued a final order on the restructuring of the Algosaibi family's conglomerate AHAB, putting a formal end to one of Saudi Arabia's largest and longest debt disputes.
AHAB filed for a financial restructuring in 2019 under the framework of Saudi Arabia's bankruptcy law, introduced the previous year to make the kingdom more investor-friendly.
The Dammam commercial court on Sunday issued the final ratification order for the AHAB restructuring, which is now unappealable, Simon Charlton, chief restructuring officer at AHAB, told Reuters.
"The company will now take steps to begin lifting the restrictions over assets and begin liquidating assets to be able to make distributions to its approved creditors," he said.
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