Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

Saudi billionaire faces bankruptcy petition after UK court allows creditor demand

By Declan Bush

12 June 2019

Sheikh Mohamed Al-Jaber, a Saudi hotel magnate once said to be among the UK’s richest men, is facing a potential bankruptcy petition in London over a £300,000 statutory demand.

Saudi billionaire faces bankruptcy petition after UK court allows creditor demand The London court allowed a statutory payment demand against the Saudi businessman. (Credit: iStock.com/VictorHuang)