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LEGAL BATTLES AROUND THE WORLD The auction is set to take place a few weeks after the government wound down the anti-corruption crackdown that involved the detention of scores of senior Saudi officials, including princes, in Riyadh’s luxurious Ritz-Carlton Hotel.The government has said the process raised more than 0bn, mostly in the form of land, stakes in businesses and other illiquid assets rather than cash.
In an email sent by Reemas last year, it told creditors its intention was to secure preliminary consent from the majority of lenders to its proposal to put the auction process at a halt.
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In an anti-corruption crackdown last November, authorities detained scores of senior officials on charges of alleged graft.
Most have been released after being exonerated or agreeing to give the state money, assets or real estate.
Saudi authorities are preparing to auction billions of dollars of real estate and cars belonging to billionaire Maan al-Sanea and his company as they look to hasten an end to one of the kingdom’s longest-running debt disputes.
The planned sale is the latest signal that Saudi Arabia is serious about holding its elites to account.
It is unlikely that you will get in any trouble over this offense if is an “honest” mistake, however if you bring a “lads mag” or real porn then you could find yourself on the next plane home (or worse!
) I have been asked many times if people will have their laptops, disk drives and flash drives inspected when they enter Saudi Arabia.
as one of the world’s 100 richest people -– was detained by authorities late last year for unpaid debt dating back to 2009 when his company, Saad Group, defaulted on debts.
Creditors have spent the past nine years pursuing Saad, which is based in the city of Khobar in Saudi Arabia’s Eastern Province, for debt that some estimate to be between SAR40bn (.67bn) and SAR60bn.
In an effort to stave off the liquidation process, Saad late last year launched its own process to engage with creditors.Tags: Adult Dating, affair dating, sex dating