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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Dubai World to present ‘fair’ plan to creditors soon

Posted on 17 March 2010

From Business24-7.ae: Dubai World will present a “fair” plan to restructure about $26 billion (Dh95.4bn) of debt as it needs creditors and contractors for the long term, said the chairman of the Dubai Supreme Fiscal Committee yesterday.

The restructuring proposal will be announced “very soon” and will be drawn up considering the long-term interests of the banks, contractors and Dubai, said Sheikh Ahmed bin Saeed Al Maktoum, who is also President of the Dubai Civil Aviation Authority and Chairman and CEO of Emirates Group………………………………….Full Article: Source

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