Saudi court to hold first hearing on AHAB dispute under new bankruptcy law

Under Saudi Arabia’s new bankruptcy law, a commercial court will look into AHAB dispute. (Shutterstock)

A commercial court in Dammam will hold on Monday a first hearing on a debt settlement for the conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) under Saudi Arabia’s new bankruptcy law, according to the Maaal financial news website.

AHAB has been the first company to file for a settlement under the new law, seeking to resolve the kingdom’s longest-running and largest debt dispute.

Representatives of some 150 AHAB’s creditors will be present, according to Maal.

Last Update: Wednesday, 20 May 2020 KSA 09:58 - GMT 06:58