From Reuters: State-owned conglomerate Dubai World’s debt restructuring deal will hasten a similar deal for creditors of property developer Nakheel, analysts said, and acts as a precedent for other state-linked restructurings.
Dubai World reached near-unanimous approval for its $24.9 billion debt plan, it said in a statement on Friday, but flagship property arm Nakheel NAKHD.UL, undergoing parallel negotiations, has yet to secure backing for its plan……………………………………….Full Article: Source