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Dubai World has restructured most of its debt

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Published on 04/01/11 - Updated on 17/03/22

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Sheik Ahmed Bin Saeed Al Maktoum, head of Emirates Airline is the new chairman of Dubai World after it secured creditor approval to restructure almost $25 billion worth of debt. Dubai WorldDubai World , one of the government's flagship conglomerates, shocked the financial community in November 2009 when it announced that it would seek to delay payments on its $23.8 billion debt pile. The group in September secured the support from over 99% of its creditors for its debt-restructuring deal, which was finalized a month later, ending more than 10 months of negotiations.

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