Cayman court freezes $9bn

| 31/07/2009

(Financial Times): A Cayman Islands court has ordered a worldwide freeze of assets belonging to Maan al Sanea and dozens of his companies in a ruling that steps up the pressure on the Saudi billionaire who is struggling with financial difficulties. The decision by the court to freeze $9.2bn was in response to a complaint filed by Ahmad Hamad Algosaibi and Brothers, another Saudi company that is embroiled in a bitter dispute with Sanea, the owner of Saad Group. Sanea rose to international prominence in 2007 when he bought a 3.1% stake in HSBC and his group has numerous companies registered in Cayman.

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  1. Jedi Dread says:

     Gimmie Some, Gimmie Some…

    You guys think he’ll miss a couple hundred thousand?

    It’s so sad, that people are starving around the world, and this guy has the Luxury (think about it) of having 9 Billion dollars frozen.

    Blessed are the meek…

    – Jedi Dread –