Manazel Restructuring - Gulf Bank

AlQabas reports that the bank involved in the restructuring is Kuwait's Gulf Bank.

Earlier post here.

By the way earlier I omitted mentioning that The Investment Dar owns 25% or so or Manazel.  Carrying value in 2007 was some KD 25 million.  A recovery in Manazel will be positive for TID, but isn't going to close the asset - liability gap identified in the creditors' assessment.