MIDDLE EAST Bondholders and creditors have begun mobilising in response to Dubai World’s $26bn restructuring plans, as Dubai’s ruler on Tuesday sought to reassure investors that his debt-laden emirate’s economy remained sound.
The move by banks and hedge funds to form a representative group comes amid concerns among investors that a request for a six-month standstill on its debt agreement with creditors by Dubai World – one of Dubai’s flagship entities – could develop into a broader restructuring.
