Saudi 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
Shareholders 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
A 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
Brent 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.
Troubled 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
Dubai 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
Dubai'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