24.08.2009 - Creditors of Al Sanea $650mln Sukuk may dissolve bond
From Zawya Dow Jones: Creditors of the $650 million Golden Belt Sukuk may dissolve the bond and try to recover their cash before claims pile up against its issuer, financially-troubledbillionaire Maan Al Sanea, persons familiar with the matter said. "A letter will be delivered to the obligator to talk with creditors," a banker involved in the sukuk told Zawya Dow Jones. "Al Sanea will have seven days to respond and if he doesn't we'll go after his personal assets. The sukuk is backed with a personal promissory note." ..........Full Article (Subscription Required): Source
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