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Saudi conglomerate Ahmad Hamad Algosaibi and Brothers has appealed against a Saudi court’s decision to reject its petition for protective settlement – the first such petition under the new Saudi Arabian bankruptcy law
14 February 2019
Saudi bank Samba has asked an English appeals court to prevent the joint liquidators of Cayman-incorporated Saad Investments Company (SICL) from amending a share claw-back claim they first filed against the bank in 2013, on grounds of limitation.
12 February 2019
South African retail conglomerate Steinhoff says “a company claiming to be a creditor” has filed an objection to company voluntary arrangements for two of its European subsidiaries, one month after creditors approved them.
11 January 2019
The Cayman Islands Grand Court has adjourned a winding-up petition against private equity investor Abraaj Holdings for a third time, finding the applicant had failed to identify “any immediate, tangible benefit” of an official liquidation.
09 January 2019
Abu Dhabi’s financial free zone is inviting public comments on a proposed new bank recovery regime, including tools for cross-border coordination and recognition.
09 October 2018
Texas-headquartered retailer Mattress Firm has filed for Chapter 11 protection in Delaware, blaming its financial difficulties on a “cannibalisation” of sales among stores following a rapid expansion of the business.
08 October 2018
The Dubai International Financial Centre (DIFC) is inviting public comments on a draft insolvency law that includes a debtor-in-possession rescue process and a proposal to adopt the UNCITRAL Model Law on Cross-Border Insolvency.
01 October 2018
In an era of excessive corporate debt, how important are debt-to-equity swaps as a resolution mechanism in the Gulf? Panellists in Dubai identified some of the challenges and opportunities offered by swaps - a relatively rare restructuring tool in the region.
18 September 2018
While governments across the Middle East are modernising their bankruptcy laws, the region’s non-performing loans should “ring the bells” of banks and regulatory authorities, delegates heard on the opening day of the Gulf Cooperation Council’s first-ever debt restructuring and NPL summit in Dubai.
12 September 2018
The chief restructuring officer of Saudi conglomerate Ahmad Hamad Al-Gosaibi & Brothers (AHAB) says the group may use Saudi Arabia's new bankruptcy law to try and see an end to its decade-long restructuring saga, in what will be a “huge litmus test” for the Kingdom.
10 September 2018
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