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Maan Al-Sanea
  Saudi banks reject Algosaibi meeting on Gulf TimesSaudi banks reject Algosaibi meeting on $5.9bn defaultGulf TimesAlgosaibi and billionaire Maan al-Sanea's Saad Group missed payments on at least $15.7bn of debt in 2009 in the Middle East's biggest default, as the global financial crisis froze credit markets and asset prices slumped. The two family holding ...and more »
Posted on 10 April 2014 | 12:34 pm
  Saudi Banks Reject Algosaibi Meeting on $5.9 Saudi Banks Reject Algosaibi Meeting on $5.9 Billion DefaultBloombergAlgosaibi and billionaire Maan al-Sanea's Saad Group missed payments on at least $15.7 billion of debt in 2009 in the Middle East's biggest default, as the global financial crisis froze credit markets and asset prices slumped. The two family holding ...NY court dismisses claims over Saudi billionaire's alleged fraudYahoo Newsall 16 news articles »
Posted on 10 April 2014 | 5:21 am
  Group is seeking debt deal - Gulf Daily News Gulf Daily NewsGroup is seeking debt dealGulf Daily NewsIt has pointed the finger at Saudi citizen and Saad Group founder Maan Al Sanea, who married into the Algosaibi family and is among those facing criminal charges in Bahrain. However, Mr Al Sanea has repeatedly denied wrongdoing. AHAB is now trying to ...
Posted on 7 April 2014 | 7:31 pm
  Saudi group offers new settlement - Saudi group offers new settlementCaymanian CompassMaan al Sanea, the billionaire owner of Awal Bank and head of the Saad Group, who married into the Algosaibi family, has been accused by the Algosaibis of borrowing billions of dollars without authority, using forged documents and then siphoning the ...
Posted on 2 April 2014 | 10:01 pm
  New Resolution Sought in Five-year-old Gulf TimesNew Resolution Sought in Five-year-old Algosaibi CaseWall Street Journal (blog)After AHAB defaulted in 2009, the company claimed it was the result of a $10 billion fraud allegedly committed by Maan Al Sanea, a Saudi billionaire who married into the Algosaibi family and had been in charge of its remittances business. Mr. Al Sanea ...RPT-Saudi Arabia's Algosaibi calls May creditor meeting -bankersReutersSaudi's Algosaibi Estimates Assets At A Fraction Of Claims Against ItGulf Business NewsSaudi Arabia's Algosaibi Calls Meet on $5.9 Billion Default (3)BusinessweekThe National -PR Newswire (press release)all 30 news articles »
Posted on 31 March 2014 | 10:36 pm

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Maan Al-Sanea
  N.Y. court dismisses claims over SaudiALBANY, N.Y., April 8 (Reuters) - New York's highest state court has ruled that a lawsuit by the Algosaibi family conglomerate, claiming that a Saudi billionaire who married into the family committed a $150 million fraud, should be heard in Saudi Arabia. In the lawsuit, Ahmed Hamad al Gosaibi & Brothers Co claimed that Maan al-Sanea, the billionaire head of the Saad Group, used its accounts with ...
Posted on 9 April 2014 | 1:38 pm
  Our Membership SolutionsGet Over 40 Email Bulletins on MENA Countries & Sectors. Track the Latest News, Research or Analysis with My Zawya. Access Time-Saving Tools & Productivity Enhancing Services.
Posted on 8 April 2014 | 11:15 pm
  Saudi's Algosaibi estimates assets at aSaudi Arabian conglomerate Ahmad Hamad Algosaibi & Brothers (AHAB) estimates its assets are worth less than a quarter of about $5.9 billion in claims made against it, a spokesman said as the group prepares a proposal to end one of the Middle East's biggest corporate debt disputes. AHAB this week invited more than 70 financial institutions, including Saudi, regional and international banks, to a ...
Posted on 1 April 2014 | 4:12 am
  AHAB Settlement Proposal to Break Years ofWASHINGTON, March 31, 2014 /PRNewswire/ -- Ahmad Hamad Algosaibi & Brothers Company ("AHAB") announced today that it has invited financial institutions with claims against the company to attend a meeting in Dubai, UAE on May 7, 2014, at which AHAB will outline the terms of a comprehensive settlement agreement. The move by AHAB breaks a stalemate that has existed since late 2009 when AHAB's last ...
Posted on 31 March 2014 | 6:06 pm
  Saudi Arabia's Algosaibi calls May(Adds letter from company to creditors) ABU DHABI/WASHINGTON, March 31 (Reuters) - Years of wrangling over billions of dollars of debt owed by a Saudi conglomerate could be nearing a conclusion after creditor banks were called to discuss a proposed settlement. Commercial bankers said on Monday Ahmad Hamad Algosaibi & Brothers (AHAB), a conglomerate whose interests range from real estate to ...
Posted on 31 March 2014 | 8:13 am

BING

Maan Al-Sanea
  CORRECTED-N.Y. court dismisses claims overIn the lawsuit, Ahmed Hamad al Gosaibi & Brothers Co claimed that Maan al-Sanea, the billionaire head of the Saad Group, used its accounts with Dubai-based Mashreqbank PSC to commit fraudulent foreign exchange trades executed in New York. The suit is part ...
Posted on 9 April 2014 | 7:27 am
  audi billionaire Maan Al-Sanea has $9.2bnIn 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 | 4:17 am
  Al-Sanea sees $9.2bn asset-freeze lifted byA Cayman court has ordered a worldwide freezing order on the assets of billionaire Maan Al-Sanea be lifted, as it assesses new evidence in the Saudi businessman's multi-billion dollar legal battle with his in-laws, the Algosaibi family. The rift in the ...
Posted on 22 September 2011 | 4:14 pm
  Court lifts $9.2bn freezing order on SaadMaan Al Sanea, the boss of the Saad Group, one of the Middle East's biggest conglomerates, said a Cayman Island court had lifted a freezing order that was won by his wife's family, the Algosaibis, two years ago. He said the Algosaibis - who own Ahmed Hamad ...
Posted on 22 September 2011 | 4:09 am
  AHAB Response To Bahraini GovernmentMANAMA, BAHRAIN--(BUSINESS WIRE)--Ahmad Hamad Algosaibi & Brothers (AHAB) today applauded, Nawaf Hamza, the Bahraini Public Prosecutor for announcing criminal hearings into Maan Al Sanea’s illegal activities involving The International Banking ...
Posted on 7 March 2011 | 7:22 am
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