| From Arabnews.com: Dubai World creditors face painful choices. The conglomerate is close to a proposal for restructuring $26 billion of debt. But if lenders resist the deal, the process moves into uncertain territory.
The plan is expected to cover debts, mainly unsecured, of around $20 billion owed to 97 banks. It will also encompass $4 billion due indirectly to Abu Dhabi, after the emirate agreed to refinance a Dubai World bond in December. Another $2 billion is split between two sets of bondholders at property subsidiary Nakheel..............................................Full Article: Source
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