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Wednesday, 26 January 2011

Nakheel: legal claims not delaying restructuring - Maktoob News

Legal claims against Dubai World property unit Nakheel are not delaying the developer's proposed restructuring plan, its chairman said on Wednesday.

Sources familiar with the matter said last month that the company's restructuring was being complicated by new claims from trade creditors that could lead to more legal headaches down the road.

Nakheel will also not need additional financing from the Dubai government, Chairman Ali Rashid Lootah told reporters on Wednesday.