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Dubai’s Nakheel pays $1.36bln to trade creditors

Posted on 20 June 2011

Nakheel, the real estate arm of debt-laden conglomerate Dubai World has paid AED5bn ($1.36bn) in overdue payments to its trade creditors, the company said Sunday.
The developer, which is seeking to delay some $10.5bn of debt, said last week it had won near-unanimous approval from trade creditors representing 95 percent of the debt……………………………………….Full Article: Source

 
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