The list of international banks seeking funds from Dubai Group in a London arbitration has increased to four as an Egyptian lender joined institutions seeking to resolve an impasse over the company's US$10 billion (Dh36.72bn) debt restructuring.
The Egyptian bank joins Royal Bank of Scotland, Germany's Commerzbank and South Africa's Standard Bank in a legal action to recover funds they are owed by Dubai Group.
The arbitration comes after a two-year impasse in debt restructuring talks with Dubai Group and the European and South African banks walked away in July.
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