26.11.2009 - Dubai recovery hopes hit by debt 'standstill' call
From Telegraph: Dubai World, one of the emirate's main state holding companies, said it was asking for a delay on maturities until at least May 30. It has $60bn (35.9bn) in declared liabilities and one of its subsidiaries, the "palm island" developer Nakheel, is due a $3.52bn Islamic bond repayment, plus charges, on December 14. The company also unveiled a restructuring programme, to be headed by Aidan Birkett, Deloitte's managing partner for corporate finance...............................Full Article: Source
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