Thursday 26 November 2009

More Problems in Dubai Inc - Dubai World Restructuring & Debt Standstill

Gulf News reports that the Dubai Government has announced the appointment of a Chief Restructuring Officer for Dubai World (Aidan Birkett of Deloitte).

A bit further down is the more depressing news:  Dubai World is asking for a standstill on debt repayments until 31 May 2010.

Here's Khaleej Times report.

Just what is it they're humming down there?

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