Thu, Apr 17, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Emerging Trends, Finance more

Nakheel’s creditors may get waterfront land in default

Posted on 08 December 2009

From Bloomberg: Nakheel PJSC creditors may win the right to seize a strip of barren waterfront land the size of Manhattan if the company defaults on the $3.5 billion bond backing the development.

Investors will be able to seek foreclosure on the property’s mortgages should the Dubai World unit fail to repay the loan, according to the bond’s prospectus. The debt is due on Dec. 14, after which Nakheel has two weeks to remedy a default……………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed
 
Article link

This post was written by:

Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


Contact the author

Comments are closed.

banner
banner
April 2014
M T W T F S S
« May    
 123456
78910111213
14151617181920
21222324252627
282930