02 Apr 2012
(MENAFN) Dubai’s DryDocks World said that it managed to obtain the approval of the majority of its lenders to execute its USD2.2 billion debt restructuring plan, reported AP.
The state-owned shipyard operator added that although a small minority of creditors has not signed on to the plan, however, the company has enough support to apply the restructuring.
It also said that debt negotiations were complicated by a lawsuit by Monarch Alternative Capital, one of the company’s creditors, which was seeking around USD45 million it was owed.
The division of the Dubai’s debt-laden Dubai World conglomerate didn’t give any details about the revised repayment terms, or how many lenders gave their approval to the deal.
It is worth noting that DryDocks World runs the Middle East’s largest shipyard in Dubai, where it constructs and repairs ships and oil drilling rigs.
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more