VOL. XXXII

NO. 5

7-NOVEMBER-1988

Financial and Banking News

LOANS AND ISSUES

Dubai Court Orders AREG to Settle UBME Debt in Full

What could be the final chapter in the long drawn-out proceedings between theDubai-based trading group A.R.E. Galadari Brothers (AREG) and its creditors wasclosed on 28 October when the Dubai Court of Appeal ordered AREG to settle itsoutstanding Dh401mn ($110mn) debt to the Union Bank of the Middle East (UBME) infull. The debt in question was contracted between AREG and...