Investment Dar, the Kuwaiti firm whose assets include a stake in luxury carmaker Aston Martin, said on Saturday a local court had ruled to lift protection the company had against legal action by creditors.
Investment Dar was one o
Economic 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
Dubai World, one of the emirate's big state-owned conglomerates, has made a second early repayment worth around $300 million under its $25 billion debt restructuring plan, sources familiar with the matter said on Thursday.
Detroit filed the largest municipal bankruptcy in US history on Thursday, setting the stage for a costly court battle with creditors and opening a new chapter in the long struggle to revive the city that was the cradle of the American auto indus
Bahrain-based Arcapita Bank, an international investment firm, has announced the filing of an amended consensual plan of reorganisation which seeks to "maximise recoveries to creditors and other stakeholders".
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.
Dana Gas could become the first company in the UAE to restructure a bond as concerns rise that it will not have enough cash to repay a $1 billion convertible sukuk (Islamic bond) at maturity in October.
The Abu Dhabi-listed firm said
Kuwait Finance & Investment Company (KFIC) has completed a restructuring to partially deal with the KD158 million ($567.22 million) debt it had built up by the end of last year, its chief executive said in an interview.
The company suf
Drydocks World, a unit of Dubai World, has the backing from majority of its key creditors and plans to complete its $2.2 billion debt restructuring by this July, said its top official.
Khamis Juma Buamim, the chairman of Drydocks World and