Maan Al-Sanea, News, Pictures, Buzz

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Maan Al-Sanea
  Edging towards a settlement - The Economist
Edging towards a settlementThe EconomistAHAB, which is now run by former forensic accountants from Deloitte, has locked horns with, among others, the liquidator of related companies in the Cayman Islands; and with Maan al-Sanea, a Saudi businessman who used to run AHAB's financial units, ...
Posted on 4 June 2015 | 7:53 am
  Ahab pledges bulk of assets to creditors -
The NationalAhab pledges bulk of assets to creditorsFinancial TimesSince the default in 2009 of Ahab and the Saad group owned by Maan al-Sanea, a relative of the Algosaibis by marriage, both sides have been fighting global court battles and blaming each other for the collapse. Ahab says it is seeking to recover SR21 ...Saudi Family Sweetens Bank Offer for Biggest Mideast DefaultBloombergOptimism from all sides after Al Gosaibi debt talks in DubaiThe NationalSaudi's Algosaibi outlines new debt proposal to creditorsZawya (registration)all 17 news articles »
Posted on 3 June 2015 | 7:15 am
  Business in brief - Cayman Compass
Cayman CompassBusiness in briefCayman CompassJust in the past two years, we have advised on the liquidations of the Kingate Funds, Weavering Macro Fixed Income Fund, Victory Life & Pension Assurance Company, Primeo Fund, the claim against Maan Al Sanea and Saad Companies, the restructuring of ...
Posted on 2 June 2015 | 10:02 pm
  New Al Gosaibi debt deal offer 25 per cent
The NationalNew Al Gosaibi debt deal offer 25 per cent higher than previous proposalThe NationalHe repeated his offer of an overall “peace deal” with other parties in the long-running dispute, specifically Maan Al Sanea, the businessman related to the Al Gosaibis by marriage. Ahab accused Mr Al Sanea of theft, fraud and forgery in legal actions ...Saudi conglomerate improves deal for creditorsFinancial TimesSaudi's Algosaibi to present improved offer to creditors June 2ReutersSaudi Arabia's Algosaibi Takes $5.9 Billion Debt Offer to BanksBloombergGulf Daily News -FTSE Global Marketsall 18 news articles »
Posted on 18 May 2015 | 12:15 am
  Awal Bank wins $700m payout judgement -
Trade ArabiaAwal Bank wins $700m payout judgementTrade ArabiaTIBC shareholders and directors were on paper members of the Saudi-based Ahmad Hamad Al Gosaibi and Brothers (AHAB) conglomerate, but AHAB claims it had nothing to do with it and that Al Sanea - who married into the Algosaibi family - was also ...Awal Bank wins $700m judgementGulf Daily Newsall 4 news articles »
Posted on 29 April 2015 | 9:26 pm
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Maan Al-Sanea
  The American banker at the heart of the
(Reuters/James Lawler Duggan)Manama, Bahrain.American banker Glenn Stewart worked as "chief house slave" for ... in which Stewart and his Gosaibi family partner, billionaire Maan al-Sanea, are accused of stealing up to $10 billion and driving the ...
Posted on 6 April 2015 | 1:18 pm
  Saudi’s Algosaibis Settle Case Against
The settlement is a small step in a much bigger case in which the Algosaibis allege they were defrauded by Maan al Sanea, a Saudi businessman married to a member of the Algosaibi clan. Mr. al Sanea has denied claims that he and his Saad Group orchestrated ...
Posted on 2 October 2013 | 8:00 pm
  AHAB Agrees To Settlement With Glenn Stewart
Lewis also stated that, given that Stewart dealt regularly with all of the banks and with Maan Al Sanea, his agreement to provide information that can be used in AHAB's litigation against other participants "at the end of the day is far more valuable than ...
Posted on 30 September 2013 | 8:01 pm
  audi billionaire Maan Al-Sanea has $9.2bn
In what was described as a "significant victory" in his ongoing and bitter legal dispute with members of his wife's family, the head of the Saad Group will now be able to pursue what could be millions of pounds of legal costs. Mr Al-Sanea has also ...
Posted on 6 October 2011 | 4:58 am
  Maan al Sanea faces criminal charges in
Maan al Sanea, the head of the Saudi conglomerate the Saad Group, faces five criminal charges in Bahrain relating to his role in the events that led to the collapse of two banks in the kingdom nearly two years ago. Mr al Sanea, who has consistently denied ...
Posted on 8 April 2011 | 10:00 am
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Maan Al-Sanea
  headlinegrabber: Awal Bank wins $700m
headlinegrabber: Awal Bank wins $700m judgement - Gulf Daily News #Ma&@Sanea
Posted on 11 May 2015 | 8:09 am
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Maan Al-Sanea
  Resolved Question: When people talk about
Such as when someone has things to say of that Pakistani, that indian, that chinese etc etc.. im kinda getting fed up with it all. Is this racism? I know many people from different cultures such as arabs, americans, british that commit fraud, who cheat etc etc.... so please think of the context before you submit a question, think of the bigger picture. @Mahesh N - Well said i like your elaboration, and its all true well said again and thank you @H - No H you got me wrong, it was a general question, nothing to do with what you said at all. Like everyone else i have my free will to ask question. @H - Ans yes to the point westerners cheat their own kind even in there own countries, it happens but people dont see maybe they dont want to and turn a blind eye. I agree asians are cheaters but not as bad as Americans, british who have cheated muslims all over the globe, and also westerns cheated there own fellow men out of money etc etc... @Anna - Thank you for your kind words, and your input @H - I can ask what i want here, like other people, whats accomodation go to do with it, i know you are a clever and smart girl you dont have to tell me, many questions get posted in the UAE section including mine, i have every right to post what i want. If you have and mahesh have any friction please sort it out your selfes, i like what he said with out offending others, i dont think he was being racist he was just clarifying the facts which he strongly believes in. We all share our views and opinions here and its not racism, I know H you are not racist but niether am i, I dont know about others. Have you ever notices some of the replies i get H there personal and offensive but i brush it to one side. H as i said before your a good person, keep it up :)) i have nothing against you.
Posted on 18 February 2010 | 1:21 am
  Resolved Question: The National publishes a
The media is biased. Rather than talk about Indians running away with their money, they talk about Dubai world and Maan al Sanea. I thought the National was not a tabloid like the gulf news.
Posted on 8 February 2010 | 9:10 pm
  Resolved Question: 4 years delay and not
If any one of us delay making a payment that is due to a developer / financial institution, we would have the cops hunting for us. When Nakheel or Maan al Sanea (Saad Group) use OPM (other people's monies) and get away for years at length, we are simply left helpless. The moral of the story is if you wish to default - make sure that you are really big. If you owe the bank 50K, you're screwed, if you owe the bank 50 Million, the bank is screwed.
Posted on 14 November 2009 | 10:34 pm
  Resolved Question: It is a slow news day so
the UAE's and Saudi's ability to buy our bonds in the near future? ‘Never Go Bust’ Families Mean End of Easy Credit (Update2) Sept. 17 (Bloomberg) -- Maan al-Sanea, one of Saudi Arabia’s richest men, operates his corporate empire barricaded behind a four-foot high concrete wall, painted in bright red stripes. A second, higher wall is topped with barbed wire, a reminder of the terrorist attack on his company’s nearby residential compound five years ago that killed 22 people. Now al-Sanea is under a different kind of siege, this time from the family he married into and helped make him wealthy. In a region where business disputes are routinely settled in private, the family feud between the two most prominent names in the Saudi oil city of Al-Khobar -- Algosaibi and al-Sanea -- has erupted into public and curbed lending across the Gulf. Eighty banks, including BNP Paribas SA and Citigroup Inc., are owed at least $15.7 billion, sparking a flurry of litigation. The battle has increased pressure for more transparency among the region’s family-run firms and less reliance on name lending, or borrowing based on reputation. “With Maan al-Sanea or the Algosaibi family, the perception was that they would never go bust or never default,” Yazan Abdeen, a Dubai fund manager at ING Investment Management, said. “Facts are showing that this can happen. The banks in Saudi, Kuwait and the United Arab Emirates will get a hit, and this will make the banks alter their own lending models. It’s like a ‘black swan’ event, something no one saw coming.” Al-Khobar, an oil-rich seaside city in the Persian Gulf, 250 miles east of Riyadh, is the center of a legal and financial struggle that has seen some of the Algosaibis accuse al-Sanea, ranked 62nd on this year’s Forbes magazine list of richest people, in court filings of siphoning off $10 billion in assets while he was running a money-management business for them. Accounts Frozen The Saudi Arabian central bank ordered a freeze of al- Sanea’s accounts, bankers familiar with the instructions said on May 31. The Algosaibis then used a Cayman Islands court order to try to freeze $9.2 billion of his assets, court documents show. “All of the allegations made are wholly without foundation,” al-Sanea’s company, Saad Group, said yesterday in an e-mailed statement. “While maintaining an absolute focus on its own restructuring, the Saad Group will respond appropriately and in a timely fashion to the erroneous claims made against it. However, this will be through a proper judicial process and not through the media.” The Algosaibis declined to comment for this story, James Courtovich, a Washington-based spokesman for the family, said. read the rest---
Posted on 17 September 2009 | 9:50 pm
  Resolved Question: Maan Al Sanea full birth
Posted on 15 July 2009 | 4:37 am
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