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Arcapita files key restructuring planBahrain-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". The compan 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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Dana Gas, creditors to thrash out sukuk dealDana 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 More… |
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KFIC completes partial debt restructureKuwait 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 More… |
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Drydocks sees $2.2bn debt restructing by JulyDrydocks 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 More… |
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Greece, creditors on verge of clinching debt dealGreece and its private creditors said they are piecing together the final elements of a debt swap and expected to have a deal ready next week, essential for sealing a new bailout and avoiding an uncontrolled default. After muddling through More… |
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Global eyes new debt dealKuwait's Global Investment House said it has asked creditors to delay principal repayments on debt due in December as part of a move to renegotiate a $1.7 billion restructuring agreement. The investment firm also asked to defer an incr More… |
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Global to meet creditors on Sept 15Kuwait's Global Investment House will meet with its creditors on September 15 to discuss its recent financial performance and outlook, it said in a statement on Wednesday. The firm said the meeting with lenders will take place "in light ( 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 World opens talks with small creditorsTroubled conglomerate Dubai World has begun talks with small creditors, not included in the coordination committee of banks on its restructuring plan, to avoid any lawsuits, a UAE newspaper said on Sunday. The company, which has $14.4 bill More… |
