al-Sanea

Algosaibi to seek Al Sanea default in NY court

ArabianBusiness.com (Free subscription) | 10/26/2009

Saudi family conglomerate Algosaibi will ask New York court for default judgment.

Maan al Sanea Breaks His Silence

Zawya.com - Top Regional News (Free subscription) | 10/14/2009

Maan al Sanea, the Kuwaiti-born billionaire alleged to be at the centre of one of the Middle East's biggest corporate scandals, has hit back for the first time against his accusers, the al Gosaibi family of Saudi Arabia.

Al Sanea assets remain frozen

Caymanian Compass (Free subscription) | 10/08/2009

Maan Al Sanea, the head of SAAD Group, failed to overturn a freezing order on his worldwide assets in a British High Court.

The Maan Al Sanea Case Teaches How To Live Like A Billionaire

Anorak News (Free subscription) | 10/06/2009

Thanks to Saudi Arabian businessman Maan al Sanea’s appearance at the High Court, London, we get to see how a billionaire lives. It's wild...

Maan al Sanea: frozen money!

Money is the way (Free subscription) | 10/06/2009

This is the first I have heard of it. But as soon as I heard of it. Which is right now. Yes, right now I hear of it. Voices out of the desert? O my child, what do you think, man? Maan al Sanea - such a groovy name, maaaaaaaaaaaaaan!!! - has had all his money frozen!This is an outrage!Only yesterday I was speaking, Louie Louie was speaking, of the hot, sticky money that loves us in the desert...

Al Sanea fails to overturn $9.2bn freezing order

ArabianBusiness.com (Free subscription) | 10/06/2009

A legal dispute has opened in the English courts, with Maan Al Sanea failing to overturn a $9.2bn freezing order on his worldwide assets, it was reported on Tuesday.The High Court eased the order to allow the embattled billionaire $4m spending money a year after a hearing in which Al Sanea rejected fraud allegations and outlined living expenses including a private zoo and utility bills...

• UK court relaxes curb on Saad cash - Financial Times

Saad unit lenders meet, liquidators appointed

ArabianBusiness.com (Free subscription) | 11/06/2009

A spokesman for Saad Group declined to comment.Regulators and bankers are grappling with up to $22 billion of debt restructurings at Saad and a second Saudi firm, Algosaibi, viewed by some as the biggest financial blow to the region since the global credit crisis began.The two groups are involved in a complex legal dispute, and Algosaibi has asked a New York court for a default judgement against the...

Saad chief in fight to have US case dismissed

Financial Times (Free subscription) | 11/03/2009

Maan al Sanea says his rancorous battle with fellow conglomerate Ahab, which has accused him of fraud, has 'no business' being heard in New York and should be fought in Saudi Arabia instead

Financials: CIT faces hurdles to prove viability, Former AMD chi...

Arts Reader (Free subscription) | 11/03/2009

If this email is not displayed correctly, please click on the following link or open your browser and paste the link into the address field: http://view.ed4.net/v/2SRI11/NISY8/81LZH9/TU3LF/ Financials Tuesday November 03 2009 FT.com - Financials CIT faces hurdles to prove viability CIT Group, the US commercial lender that filed for bankruptcy under a pre-packaged plan, faces a series of hurdles to...

Conglomerate feud tarnishes Saudi image

The Huffington Post (Free subscription) | 10/30/2009

CAIRO — It goes well beyond the average family squabble. For months, two billionaire families in Saudi Arabia, linked by marriage, have been locked in a bitter legal battle centered on an estimated $22 billion debt implosion and allegations of billions of dollars in fraud. Bank accounts have been frozen. International banks, facing billions in outstanding debt, have filed suit. Claims of scapegoating...

• Conglomerate feud tarnishes Saudi image - Miami Herald
• Cartel feud tarnishes Saudi image - IOL
• See the 4 articles on the same subject

Conglomerate feud tarnishes Saudi image

Sify (Free subscription) | 10/29/2009

It goes well beyond the average family squabble.For months, two billionaire families in Saudi Arabia, linked by marriage, have been locked in a bitter legal battle centered on an estimated $22 billion debt implosion and allegations of billions of dollars in fraud.Bank accounts have been frozen. International banks, facing billions in outstanding debt, have filed suit. Claims of scapegoating and family...

Cartel feud tarnishes Saudi image

IOL (Free subscription) | 10/29/2009

Two billionaire families in Saudi Arabia, linked by marriage, have been locked in a bitter legal battle that threatens to cast a pall over the country's image.

Conglomerate feud tarnishes Saudi image

Seattle Post-Intelligencer (Free subscription) | 10/29/2009

The dispute between Maan al-Sanea and his Saad Group and Ahmad Hamad al-Gosaibi and Bros., or AHAB - two of Saudi Arabia's most prominent private conglomerates - threatens to cast a pall over Saudi Arabia's image at a time when the global meltdown and credit crisis already have squeezed the kingdom's companies.

Conglomerate feud tarnishes Saudi image

Miami Herald (Free subscription) | 10/29/2009

Conglomerate feud tarnishes Saudi imageBy TAREK EL-TABLAWYAP Business WriterCAIRO -- It goes well beyond the average family squabble.For months, two billionaire families in Saudi Arabia, linked by marriage, have been locked in a bitter legal battle centered on an estimated $22 billion debt implosion and allegations of billions of dollars in fraud.Bank accounts have been frozen. International banks,...

Scrutiny tightens on Gulf lending

Financial Times (Free subscription) | 10/22/2009

The multi-billion dollar travails of two Saudi companies have caused banks to demand greater financial disclosure from family businesses in the Gulf and curb lending until standards improve