Cayman court freezes $9bn
(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.
Category: Business
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 –