Creditor claims could delay Dubai debt deal: experts | Reuters
Dubai's special tribunal, set up to hear cases against indebted state firm Dubai World, could throw efforts to restructure $26 billion in debt into disarray if just one creditor files a claim, legal experts say.
Dubai World DBWLD.UL is lobbying banks to sign up for the proposal, but even if the required supermajority of 66.66 percent of creditors endorses the plan, a claim at the tribunal could halt the restructuring plans and keep lenders locked in.
"If a creditor was to go to the tribunal, a standstill would be put in place," said Philip Abbott, partner at Simmons & Simmons.
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