03.07.2009 - Creditors fail to vote on dissolving $650mln Saad Sukuk
From Zawya Dow Jones: Creditors for a $650 million sukuk issued by troubled Saudi conglomerate Saad Group failed to vote in a meeting last week on whether to dissolve the Islamic bonds and get a payout, a banker familiar with the matter told Zawya Dow Jones. No decision was taken at the gathering held in London on a proposal to appoint Citicorp Trustee Company Ltd., a unit of Citigroup Inc (C) to act on the behalf of investors or vote on whether to dissolve the Golden Belt 1 sukuk as not all creditors were present, the banker said..........Full Article (Subscription Required) : Source