Tuesday, 14 September 2010

Dubai gets out of debt and restructuring accepted.

Dubai Worls has received formal agreement from over 99 per cent by value and approximately 99 per cent by number of its creditor banks to its restructuring proposal. “This formal agreement also marks the support of the creditors to the separation of Nakheel from Dubai World. The Government of Dubai continues to focus on Nakheel and is pleased with the significant progress achieved by the company to date in discussions with its creditors,”  so it is said.

Well the recovery continues.  this is indeed good news.

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