Printer Friendly

Dubai World holds meeting with its creditor banks.

Byline: (Staff Writer)

Also in attendance were Dubai World's appointed advisers Deloitte, Rothschild and Clifford Chance.

As was confirmed in its statement of December 14 th , Dubai World will continue to work with financial creditors to seek a standstill in an orderly way. As long as a standstill is successfully implemented, Dubai World has assurances that the Government of Dubai, through the DFSF, will provide financial support to cover working capital and interest expenses to ensure the continuity of key projects.

Dubai World is committed to working closely with the banks' appointed Coordinating Committee to work towards a consensual solution for the benefit of all lending banks, trade creditors and other stakeholders affected by the restructuring.

2009 CPI Financial. All rights reserved.

Provided by an company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:CPI Financial
Date:Dec 22, 2009
Previous Article:Moody's takes rating actions on four Lebanese banks.
Next Article:Scotiabank becomes first Canadian bank to operate in DIFC.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters