Jubail-based Azmeel Contracting was one of the first Saudi companies to enter bankruptcy under a law that took effect in 2018.
February 09, 2022 at 10:09 AM
3 minute read
Correspondent, Dubai
Two major U.S. law firms are representing the parties in the $2 billion restructuring of a Saudi contracting concern after payment delays forced it to the brink of bankruptcy.
King & Spalding is advising Jubail-based Azmeel Contracting, one of the Kingdom’s five biggest builders, while Latham & Watkins is representing the creditors in the matter.
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