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Al Jaber to sell contractor, leverage hotel in debt planAbu Dhabi's Al Jaber Group plans to raise up to Dh2.35 billion ($640 million) by the end of 2017 by selling its stake in a construction company and using a prime hotel in the emirate as collateral for a loan, informed sources said. More… |
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Al Jaber to sell contractor, leverage hotel in debt planAbu Dhabi's Al Jaber Group plans to raise up to Dh2.35 billion ($640 million) by the end of 2017 by selling its stake in a construction company and using a prime hotel in the emirate as collateral for a loan, informed sources said. More… |
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Creditor sale brings Limitless to brink of debt plan dealDubai-based property developer Limitless is set to complete a drawn-out debt restructuring after the final dissenting creditor sold its share of the company's Dh4.45 billion ($1.2 billion) debt, sources with knowledge of the matter said on W More… |
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Algosaibi assures banks minimum 20pc recoverySaudi Arabian family conglomerate Ahmad Hamad Algosaibi & Brothers (AHAB) today outlined a comprehensive settlement proposal to a group of banks and other financial institutions with claims against it that would see them repaid a minimum of More… |
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Kuwait's Global wins nod for $1.7bn debt planShareholders in Kuwait's Global Investment House on Sunday approved a final plan for the company's $1.7 billion debt restructuring that will create new special purpose vehicles (SPVs) to take on its debts. The Kuwaiti investment More… |
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Dubai court approves Drydocks $2.2bn debt planA special court in Dubai on Tuesday formally approved the $2.2 billion restructuring of shipbuilding unit Drydocks World, thereby making the complex debt deal effective. Creditors holding more than 97.8 per cent of the debt had ag More… |
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Brent rises above $118 on Europe debt planBrent crude futures rose above $118 on Friday, as Europe's sweeping new action on the debt crisis and signs of progress on a US deficit reduction deal offset weak economic data from the world's second largest oil consumer, China. The Inter More… |
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91pc trade creditors agree to debt plan: NakheelTroubled Dubai developer Nakheel, a unit of conglomerate Dubai World, on Wednesday said 91 per cent of trade creditors have agreed to its restructuring proposal. '... 91 per cent(by value) of trade creditor accounts payable has been fi More… |
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Dubai says recovery chances low if debt plan failsDubai World warned that lenders, aside from the government's own support fund, would face a 'significantly' lower chance of recovery if its debt plan fails and it is forced to seek liquidation, according to the debt restructuring plan More… |
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Debt plan well received says Dubai finance bossDubai's proposed $9.5 billion plan to address its embattled conglomerate Dubai World's debt crisis has been well received, Dubai's finance chief has been quoted as saying. Abdulrahman al Saleh, director general of the Dubai finance departm More… |
