31 Jul 2011
(MENAFN) Reuters reported seeing a document that shows that SC Lowy Financial, a Hong Kong-based distressed debt firm, approached trade creditors of Dubai’s Nakheel seeking taking the claims off their hands, reported Arabian Business.
This comes as the first clear sign that distressed players are circling Nakheel’s USD10.9 billion debt restructuring.
The firm is asking trade creditors to submit their proof of claims so that it can be reviewed for details, the document said.
Nakheel, builder of palm-shaped islands, was at the centre of Dubai’s debt crisis in 2009 after the global financial crisis hit the UAE’s real estate sector.
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BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
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BBK discloses its financial results for the half year ended 30th June 2025
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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BBK hosts executive leadership session on digital assets in collaboration with Rain
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