If reports from a leading UAE news daily are to be believed, then the debt-struck conglomerate, Dubai World, is indulging in talks with the small creditors. These creditors are not part of the coordination committee formed by the banks, as a part of the restructuring plan of the conglomerate. Dubai World is believed to have adopted this step in order to avoid any legal action.
According to Al Ittihad, a leading Arabic newspaper, Dubai World has kicked off the negotiation process with smaller creditors only after it received the approval for its restructuring plan from the lending banks. The conglomerate had mentioned earlier that it would soon come with an outline for repaying its $14.4bn debt.
Dubai apartments
According to Al Ittihad, a leading Arabic newspaper, Dubai World has kicked off the negotiation process with smaller creditors only after it received the approval for its restructuring plan from the lending banks. The conglomerate had mentioned earlier that it would soon come with an outline for repaying its $14.4bn debt.
Dubai apartments
0 comments:
Post a Comment