Monday 6 February 2012

Dubai Group restructuring still on - The National

Dubai Group says it remains committed to reaching a restructuring deal on US$10 billion (Dh36.72bn) of debts owed to lenders.

The statement follows a report last week by Reuters that Dubai's Supreme Fiscal Committee (SFC), a senior part of the emirate's Government, had walked away from the debt talks, citing two people it did not identify.

The firm has been in discussions for more than a year with creditors to delay its debt repayments.

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