Dubai World Debt Negotiations will officially enter the process on 21st

Source: Internet
Author: User
Keywords Banks debts Scotland creditors
Tags apply creditors date group it is media mobile mobile phone
2009-12-20 22:59:25 Source: Xinhua 0 Mobile phone To see the stock Xinhua Abu Dhabi December 20, according to the media here 20th reported that Dubai world groups will be formally on 21st to apply to its creditors, the commitment to the debt restructuring process in its subsidiaries before the commencement of the repayment date.  On that day, the UAE's Gulf newspaper quoted a source who declined to be named, saying that Dubai World Group creditors had chosen KPMG as their representative in the negotiations on debt restructuring. KPMG is expected to negotiate with Dubai world groups as representatives of several international and UAE local banks and financial institutions involved in the lawsuit.  These include Standard Chartered Bank, Royal Bank of Scotland, HSBC and Lloyds Bank.  Four UK banks, including HSBC Holdings, Standard Chartered Bank, Lloyd's Bank and Royal Bank of Scotland, have already agreed to a debt restructuring programme for the UAE's Dubai World Group and have asked them to provide solutions to issues such as interest on deferred loans, according to previous reports. The UAE's national daily reported that Dubai, chairman of the Supreme Finance Committee, Ahmed Ben Saidi Aller Maktoum and Dubai Investment company chief executive Muhammad Chebany, had been in talks with local financiers over the issue of the Dubai world's repayment of their debts. The two said the Dubai world could still repay all its debts to creditors.
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