Saudi Arabia’s largest and longest debt saga, fueled by a feud that has split one of its richest families, could be nearing a resolution after a court approved about $14 billion in claims related to the collapse of two business empires a decade ago. The Saudi court has accepted more than $7 billion in claims from creditors against the Algosaibi family’s conglomerate AHAB, and about $6.5 billion against tycoon Maan al-Sanea and his company Saad Group, two court documents seen by Reuters showed. A court-driven end to the saga would not only offer some relief to those creditors, …read more
Source:: Yahoo Finance
