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Dubai World did not request a debt standstill at meeting
State-owned Dubai World did not ask its creditors …
December 21, 2009 5:57 by kippreport
State-owned Dubai World did not ask its creditors for a debt standstill during a meeting on Monday, reports Bloomberg. The company, which is restructuring around $22 billion of debt, said that the meeting was a discussion on ways to move forward.
The company also said in a statement that the Dubai government had assured of providing it with “financial support to cover working capital and interest expenses to ensure the continuity of key projects” if a standstill was achieved.