Middle East Economic Survey

VOL. LIII

No 44

1-Nov-2010

UAE

Dubai World Secures 100% Creditor Backing For Restructuring

Dubai World has secured 100% backing from its creditors to go forward with its $25bn debt restructuring plan, a spokesperson for the conglomerate confirmed to MEES. The restructuring plan, which was first presented to creditors in March, won the approval of over 99% of the conglomerates lenders by value in September (MEES, 13 September)The plan had been previously approved...