| 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
|