Dubai World Restructuring - Banks Need Details Before Deciding to Accept

Sometimes I think that newspapers and bankers have a soft spot for Suq Al Mal.  How else to explain this article from The National.

And in particular these absolutely "brilliant" 'quotes.

The bank creditors of Dubai World will seek further details on the US$23.5 billion (Dh86.31bn) debt restructuring plan before deciding whether to accept.

While the banks’ initial response has been positive, they will ask this week for greater clarity on certain points, such as the interest rates that will be paid to the creditors of the Dubai Government-controlled conglomerate.

There is certainly something to be said for checking the details.  As I've posted before, the more useful employment of that skill is during the decision process as to whether to grant the original or loan or not. If underwriting is properly done, one can avoid many - but not all - later "disappointments" with one's loan or investment.

“We are hoping to learn more details this week as we still don’t know exactly what the offer is on the table,” said a banker, who asked to remain anonymous.

 AA certainly hopes that this unnamed banker's hope becomes a reality before his bank makes a decision.