Tribunal to Arbitrate Restructuring Issue

DUBAI, UAE-The state firm, Dubai World, which has a debt of $14.4 billion, has said that it will use the special tribunal if its lenders do not agree with its restructuring plan.

By GlobeST News Portal | July 22, 2010 at 01:23 PM

DUBAI, UAE-The state firm, Dubai World, which has a debt of $14.4 billion, has said that it will use the special tribunal if its lenders do not agree with its restructuring plan. The special tribunal was set up by the Dubai government to act as an arbitrator between the lenders and Dubai World.

The tribunal can force opposing lenders to agree the restructuring if a majority of the 73 banks concur the plans. For the full story, go to Reuters.

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