Nakheel Gets Restructuring Approval From All Bank Lenders - Bloomberg

Nakheel PJSC, the builder of man-made islands off Dubai’s coast, said the company got the approval of all its bank creditors to restructure debt.

Nakheel “received acceptance from 100 percent of the banks and the required majority of its trade creditors giving their consent to the Nakheel restructuring plan,” it said today in an e-mailed statement.

Nakheel also signed agreements on its operational and financial separation from Dubai World, it said. The legal separation will happen upon completion of Nakheel’s restructuring, the real-estate company said.

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