Dubai World aiming to avoid standstill

17 February 2010

Dubai World appears to be pursuing a new strategy to restructure its $22bn debt without resorting to a standstill, The National has reported. According to the paper, the Dubai conglomerate is hoping to win a deal from creditors before an April 30 deadline prior to facing major repayment demands. 'A standstill is nice to have, but it's not essential,' a source close to Dubai World told the paper.

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