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FINANCIAL NEWS
Dubai World: All creditors to be treated on equal basis
22 Feb 2010
(MENAFN) Dubai World said that the government of Dubai, which owns the debt-laden conglomerate, is not seeking preferred creditor status in the restructuring process of the firm, Reuters reported.
A government spokeswoman said that all creditors, including the government, will be treated on an equal basis. Dubai World is still negotiating the terms of a $22 billion debt restructuring plan.
The firm shocked global markets on November 25 last year with plans to request a standstill of its $26 billion debt linked to its main property units Nakheel and Limitless World.
More News
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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