The company has around $6bn of claims against it collapsed in 2009
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Reuters - 51 mins ago
Ahmad Hamad Algosaibi and Brothers (AHAB) have signed a deal with a committee representing creditor banks to restructure the Saudi Arabian family conglomerates debt pile, it said in a statement on Monday.
This is the latest move to resolve one of the Middle Easts longest-running debt disputes. Bankruptcy law is opaque and untested in Saudi Arabia, part of the reason for the uncertainty surrounding the process and why the restructuring of AHAB has lasted for so long.
AHAB has around SAR 22.5bn ($6bn) of claims against it after the hospitality, food and real estate group collap…
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