Dubai World has reached formal agreement with a substantial majority of creditors on its proposal to amend and extend the terms of its outstanding debt totalling $14.6 billion, the state-owned conglomerate said on Monday.
Drydocks World Dubai today (May 7) notified its creditors and members that it has requested an adjournment of the Decree 57 Directions Hearing scheduled to take place in the DIFC today.
The adjournment will only lead to a short delay in th
Dubai-based Drydocks World today confirmed that an overwhelming majority of its lenders have formally supported its proposals to enable it to successfully implement its restructuring.
The statement follows from Drydocks World - Dubai and D
Dubai World can slightly increase the cash coupon offered to banks as part of a debt plan announced on Thursday, depending on which option creditors choose, the company's chief restructuring officer said.
Aidan Birkett, CRO at state-ow