Dubai World debt plan to be 'equitable'

An 'equitable' plan will be presented to Dubai World creditors by the government of Dubai next month, Reuters has reported, citing a source close to the matter. The plan does not give preferential treatment to the government but banks are unlikely to warm to the proposal, the source said. 'Ultimately, it is fully expected the banks will say they don't like it,' the source told the news service. 'We are putting forward a plan that's very, very fair.' Dubai World is in talks with creditors over restructuring $22bn in debt.