dubai detain saudi billionaire lead collapse saad group seek repay part multi-billion dollar debt creditors deal could allow release people familiar matter tell reuters businessman maan al-sanea detain october kingdom eastern province unpaid debts since civil detention center city khobar accord several source reemas group financial consultancy hire saad group outline propose settlement cover billion debt email send reemas creditors copy reuters obtain suggest would get money back court-enforced liquidation company albeit long period height success al-sanea hold investments number large company include 3.1 percent stake british-based bank hsbc buy 2007. year net worth estimate 10 billion rank forbes one world 100 rich men al-sanea fortunes turn 2009 business collapse heavy debts unleash series long-running legal dispute al-sanea detain weeks crown prince mohammed bin salman launch crackdown corruption dozens saudi princes businessmen hold however indication al-sanea case link campaign detain saudi authorities unpaid debts rather allege graft source tell reuters al-sanea access telephone speak legal team advisers try organize debt settlement help members family source ministry justice riyadh say al-sanea could release debts creditors settle khobar general court could immediately reach comment reemas group branch khobar bahrain say email 34 financial institutions obtain court judgments case worth 15.7 billion riyals 4.19 billion contact 90 percent either directly via local representative past days welcome idea yet receive preliminary consent order proceed next step say email send creditors last month reemas say email rather auction saad group assets liquidation process would move special purpose vehicle creditors own new company initiative would protect assets substantial reduction value enhance debt coverage ratio reach least 20-25 percent say reemas group immediately respond reuters request comment saad group one large business conglomerate gulf collapse weight debts 2009 along family-owned saudi conglomerate ahmad algosaibi brothers ahab since two group battle court creditors seek recover billions dollars ahab say yet approach propose debt settlement happy engage dialogue feel include include pursue avenues available us say simon charlton ahab chief restructure officer act chief executive debt settlement efforts source say come entity establish supreme judicial council saudi arabia call joint directorate enforcement general court al-khobar jdek take al-sanea personal assets begin liquidation process saad group propose settlement suggest creditors would recover fund five-year period two source say accord debt recovery path indicate jdek would get cents dollar quickly period one three years accord term settlement special purpose vehicle would supervise steer committee head saudi arabia arab national bank arab national bank respond reuters request comment two source familiar matter confirm consensual speedy settlement would show al-sanea serious repay creditors could potentially accelerate release exclusive detain saudi billionaire al-sanea seek end debt dispute