Kuwait's Global Investment House said on Tuesday that three of its creditors had failed to back a $1.7 billion debt restructuring plan and that it was looking at legal options to secure a deal.
Undergoing its second debt restructuring in three years after being buffered by the global financial crisis, Global
shareholders approved in September a plan to create new special purpose vehicles that will carry the company's debt.
However, the debt-for-equity style plan also required the unanimous backing of Global's lenders to secure an agreement.
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