Dubai’s Limitless asks creditors for more time to repay $1.2b debt | GulfNews.com:
"Property firm Limitless is asking creditors for more time to repay a $1.2 billion debt facility, its chairman said on Tuesday.
“We are revising our business plan. We need some more time. We are in discussion with banks and they are very cooperative,” Ali Rashid Lootah told Reuters.
“We have been talking to the banks for a while now and they know the situation. There will be delays. We have a payment plan but this may just be shifted slightly from the earlier schedule.”
While Lootah wouldn’t elaborate on why the company was seeking a new repayment timetable, he said it was “still healthy and still in good shape”."
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