Business News
Dubai World says restructuring could be completed in "a few months"
Jul 22, 2010, 14:51 GMT
Dubai - Dubai World announced that the company's restructuring process could be completed 'in a few months' after a meeting with the company's creditor banks on Thursday.
During the meeting, Dubai World presented the restructuring proposal it had drawn up with the coordination committee, which represents most of the company's creditors and the government of Dubai.
No decisions have been taken by creditors of the state conglomerate regarding the proposal.
Dubai World reached an agreement with its creditors on the basic features of the restructuring plan in May.
Dubai World's request for a debt freeze shook the financial world last year.
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