Dubai-based real estate developer Limitless will make an early payment of Dh2.07 billion ($563.6 million) to banks and trade creditors this month, following the successful conclusion of its restructuring agreement with lenders.
Toshiba Corp is asking three Japanese lenders for additional loans of about $1.8 billion to fund restructuring in the wake of an accounting scandal, sources with direct knowledge of the matter said on Thursday.
Toshiba is seeking
Bahrain-based Garmco, an international aluminium rolling mill and one of the largest downstream aluminium facilities in the Middle East, has completed a major restructuring of its international operations.
This is in line with the
The United Nations General Assembly has approved what it described as global ‘basic principles’ for sovereign debt restructuring processes to improve the global financial system, an initiative that was inspired by Argentina's d
Kuwait's Investment Dar remains on track to agree the bulk of a KD813 million ($2.8 billion) debt restructuring plan despite resistance by some minority investors, according to a company document.
The firm, which holds a stake
The court administering conglomerate Dubai World's restructuring on Tuesday set March 17 as the provisional date for creditors to vote on whether to approve a $14.6 billion debt deal.
The Dubai World Tribunal on Tuesday held i
Egypt's national carrier has hired Texas-based airline advisory firm Sabre Airline Solutions to prepare a restructuring plan for the state-owned company, which has suffered about a billion dollars in losses since 2010.
Egypt's national carrier said on Tuesday it had hired Texas-based airline advisory firm Sabre Airline Solutions to prepare a restructuring plan for the state-owned company, which has suffered about a billion dollars in losses since 2010.
Egypt's Qalaa Holding will issue shares worth four billion Egyptian pounds ($560 million) by May next year to advance a major restructuring of the loss-making investment fund, a company official said.
Qalaa, one of Egypt's
Dubai World's biggest creditors have agreed a deal with the state-owned conglomerate to renegotiate its debt repayment schedule, one of Dubai's top government officials said on Wednesday.
However, Sheikh Ahmed bin Saeed al