Dubai World ready to use tribunal for debt deal | Reuters

Struggling state firm Dubai WorldDBWLD.UL is ready to use a special tribunal to force rebel lenders into line on plans to delay repayment of $14.4 billion in debts, according to a source familiar with the matter.

The source spoke ahead of a key meeting on Thursday for creditors of the once fast-growing Gulf Arab emirate, now laboring under more than $100 billion of debt including those of its flagship conglomerate.

"It's unlikely all 73 banks will accept terms which means it will likely go to a tribunal," the source said, adding that if the majority support the plan, the tribunal can compel holdouts to get in line so the restructuring can proceed.