“Dubai World has today announced that headline economic terms for its restructuring have been agreed in principle with the Coordinating Committee, accounting for a majority of the Company’s financial creditors, and the Government of Dubai. A final proposal reflecting these terms will now be submitted by the Coordinating Committee to all of Dubai World’s lending banks”, said H.H. Sheikh Ahmad Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee in a statement today.
“The Government of Dubai welcomes this important milestone, which is the result of considerable efforts from a large number of stakeholders who all share a common interest in Dubai’s future”, he added.
