Dubai World, the struggling government-run firm, has cited that it has an exclusive tribunal handy for bringing the rebel lenders in sync with the plans for delaying the repayment of debts worth $14.4 billion. According to reliable sources, the keynote meeting is set for today with the creditors. The once emerging Gulf Arab emirate is currently having &100 billion-plus debt.
"It's unlikely all 73 banks will accept terms which means it will likely go to a tribunal," the source said. The source also mentioned that the tribunal can even urge the non-willing to be in tune with the restructuring process, provided Dubai World receives support from the majority.
sell a property
"It's unlikely all 73 banks will accept terms which means it will likely go to a tribunal," the source said. The source also mentioned that the tribunal can even urge the non-willing to be in tune with the restructuring process, provided Dubai World receives support from the majority.
sell a property
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