From Arabianbusiness.com: Dubai-listed refrigeration and cooling company Tabreed on Thursday said it did not make distribution payments on its AED1.7bn ($462.8m) Islamic bond due in 2011. The payment was due on May 19, it said in a statement on Dubai’s bourse website.
Tabreed, also known as the National Cooling Co, deferred payment on the bond in April, sparking concerns the state may step in again and bail it out……………………………………….Full Article: Source