06.11.2009 - Saudi Arabia: Real estate insolvency deal signed
From Zawya.com: Minister of Commerce and Industry Abdullah Zainal Alireza announced on Wednesday that liquidation agreements have been signed for 70 percent of insolvent real estate share businesses worth SR1.33 billion, adding that money received from the firms would be deposited at Bank Albilad. Speaking to reporters after signing the agreements at his office, Alireza said the liquidated businesses have been transferred to official receivers and chartered accountants.............................Full Article: Source
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