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Algosaibi signs debt restructure deal with steering groupAhmad Hamad Algosaibi and Brothers (Ahab) has signed a deal with a committee representing creditor banks to restructure the Saudi Arabian family conglomerate's debt pile, it said in a statement on Monday. This is the latest mo More… |
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Dubai World allowed debt restructure outside courtState-owned conglomerate Dubai World has been granted approval to end court proceedings relating to its $14.6 billion debt restructuring deal, according to a document on the court's website. The action allows lawyers for the c More… |
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Dubai World debt deal receives 70pc creditor consentSome 70 per cent of creditors to state-owned conglomerate Dubai World have agreed, subject to approval, to the revised terms of the debt restructuring presented at a meeting in London on Monday, sources with direct knowledge of the talks said. More… |
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Algosaibi says creditors' committee formedA steering committee of creditors of Saudi Arabian conglomerate Ahmad Hamad Algosaibi and Brothers (Ahab) has been formed to negotiate its debt restructuring, Algosaibi said on Tuesday. The committee comprises representatives from More… |
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Dubai World seeks to revise $25bn debt dealEconomic recovery in Dubai is pushing both creditors and debtors to weigh new strategies in the $25 billion restructuring of state-owned Dubai World, one of the Middle East's largest ever debt deals. The conglomerate has begun More… |
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Dubai Group's debt plan 'to include creditor oversight'Dubai Group's $10 billion debt restructuring will be managed by the head of another state-linked firm while two banks will have a monitoring role to ensure more oversight from creditors, sources aware of the matter said. More… |
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Nakheel made $234m profit in 2010 says chiefDubai's Nakheel made a 2010 profit of Dh860 million ($234.1 million) and sees a rise in revenue this year as the property developer revamps its operations post its $16 billion debt restructuring, its chairman told a local newspaper. Th More… |
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Trade creditors free to sell claims says NakheelTrade creditors of Dubai's Nakheel can sell their claims to investment banks keen on buying them and the property developer will not get involved in such deals, its chairman said in published remarks on Tuesday. Nakheel, builder of man More… |
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Al Jaber and creditors meet on restructuringAbu Dhabi's Al Jaber Group held an all-lender meeting on Wednesday to discuss the contracting firm's debt restructuring, two sources familiar with the matter said. Al Jaber set up a banks' committee earlier this year to map out debt restru More… |
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Emirates NBD eyes mergersEmirates NBD is eyeing merger opportunities within the region and the lender will set aside more money to cover bad loans in 2011 amid debt restructuring, its top executive said on Wednesday. ENBD, Dubai's largest ba More… |
