Dubai World chairman optimistic on $15bn debt restructuring talks | The National:
"Sheikh Ahmed Al Maktoum, the chairman of Dubai World, is “very optimistic” that the conglomerate will strike a deal with creditors over US$15 billion worth of debt that is being restructured in long-running talks with more than 100 banks and financial institutions.
He was speaking on the sidelines of a conference in the emirate, as creditors met separately to discuss terms offered by Dubai World to extend repayment deadlines in exchange for improved terms and collateral.
Although there was no official announcement from Dubai World, it is believed at least two-thirds of creditors gave approval to the new deal, which has been under discussion since April."
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