Middle East Economic Survey

VOL. LIII

No 29

19-Jul-2010

UAE

Nakheel Presents Restructuring Plans To Creditors

Nakheel, the real estate subsidiary of troubled conglomerate Dubai World, officially presented bank creditors with its proposed recapitalization and restructuring plan in a meeting on 14 July. The proposal, together with that of Dubai World, was originally submitted to a Coordinating Committee representing the two companies financial creditors in 25 March (MEES, 29 March). As is customary...