Tags: Dubai World | Offers | work | Creditors | orderly | way

Dubai World Offers to Work With Creditors

Monday, 21 Dec 2009 10:21 AM

Dubai World, which met its creditors on Monday, said it would work with lenders to seek a debt standstill in "an orderly way" and will get government financial support if an agreement is reached.

"As long as a standstill is successfully implemented, Dubai World has assurances that the government of Dubai ... will provide financial support to cover working capital and interest expenses to ensure the continuity of key projects," it said in a statement.

The troubled state-owned conglomerate outlined its financial position to creditors earlier on Monday but did not ask for a standstill agreement. A Dubai World spokesman said the creditors' questions to the conglomerate were "constructive."

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Headline
Dubai World, which met its creditors on Monday, said it would work with lenders to seek a debt standstill in an orderly way and will get government financial support if an agreement is reached. As long as a standstill is successfully implemented, Dubai World has...
Dubai World,Offers,work,Creditors,orderly,way
109
2009-21-21
Monday, 21 Dec 2009 10:21 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved