ID :
93996
Wed, 12/09/2009 - 15:11
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Shortlink :
https://oananews.org//node/93996
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Dubai World and lenders on the way to reaching solution
Dubai, Dec 9, 2009 (WAM) - Dubai World and a group of lenders representing the UAE and British banks are on the way to reaching a satisfactory solution that protects the interests of both parties, according to banking sources, "Emirates Business" reported
The discussions between the two parties were described as a step towards a final solution on rescheduling of debts that are due to be paid by Dubai World, British bankers told Al Bayan.
A number of local banks and branches of four British banks have set up a committee to follow up the issue of Dubai World's debts. It comprises representatives of Abu Dhabi Commercial Bank, Emirates NBD, Standard Chartered, HSBC, Lloyds Bank and Royal Bank of Scotland.
There were a number of interim solutions that were discussed. The main issue was the timing related to the debts that are due to be paid this month, they said.
The discussions between the two parties were described as a step towards a final solution on rescheduling of debts that are due to be paid by Dubai World, British bankers told Al Bayan.
A number of local banks and branches of four British banks have set up a committee to follow up the issue of Dubai World's debts. It comprises representatives of Abu Dhabi Commercial Bank, Emirates NBD, Standard Chartered, HSBC, Lloyds Bank and Royal Bank of Scotland.
There were a number of interim solutions that were discussed. The main issue was the timing related to the debts that are due to be paid this month, they said.
