North Africa/Middle East

Results for North Africa/Middle East

Dubai Realtor S&K Says Worsening Market Led To Bankruptcy

Dubai-based real estate agency S&K Estate Agents said a deteriorating property market in the emirate contributed to its decision to file for bankruptcy and be liquidated, Reuters reported. "Simply put, the revenue being generated by the business ...

Daily Headline - global.abi.org - 07/28/2015 - 20:21 - 0 comments

Kurdistan Cash Squeeze Tests Western Oil Groups

It is one of the cheapest places on earth to drill for oil — but also among the most dangerous. And, right now, Kurdistan’s intrepid band of western operators are sweating. Tumbling oil prices and a dispute over crude sales between war-torn Iraq’s federa ...

Daily Headline - global.abi.org - 07/28/2015 - 20:23 - 0 comments

Drydocks World Taps Citibank To Advise On $2.3 Billion Debt

Drydocks World has called in the American financial group Citibank to help it refinance its US$2.3 billion of debt, The National reported. DDW, under the chairmanship of Abdulrahman Al Saleh, the director general of the Dubai Department of Finance, h ...

Daily Headline - global.abi.org - 07/12/2015 - 23:40 - 0 comments

UAE Moves Towards Enacting New Insolvency Law

The long-awaited new insolvency law has taken a big step towards becoming a reality after being approved by the Cabinet, The National reported. Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, said on his website that the proposed draft ...

Daily Headline - global.abi.org - 07/06/2015 - 18:51 - 0 comments

Drydocks World Creditors Anticipate Debt Restructuring Plans

Bank creditors to Drydocks World (DDW), Dubai’s maritime engineering business, are expecting to receive proposals from the government-owned company to restructure some of the US$2.3 billion debt it refinanced in 2012, The National reported. Recent ta ...

Daily Headline - global.abi.org - 06/28/2015 - 20:31 - 0 comments

Saudi's Algosaibi Outlines New Debt Proposal To Creditors

Saudi Arabian family conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) is offering creditors a minimum return of 28 cents on every dollar owed under an enhanced proposal to end one of the Middle East's largest ever debt restructurings. The grou ...

Daily Headline - global.abi.org - 06/03/2015 - 00:02 - 0 comments

Iran's Future Bank Appeals Bahrain Decision To Take It Over

An Iranian-owned bank based in Bahrain has appealed a decision by local authorities to place it in administration, in a case showing the vulnerability of Iran's business interests in the Gulf as political tensions rise, Reuters reported. In a letter ...

Daily Headline - global.abi.org - 05/13/2015 - 22:27 - 0 comments

Bahrain Central Bank Puts Iran-Linked Bank, Insurer Into Administration

Bahrain's central bank said on Thursday it had placed two Iran-linked companies, Future Bank and Iran Insurance Co, into administration to protect the rights of depositors and policyholders, Reuters reported. In a brief statement, the central bank d ...

Daily Headline - global.abi.org - 04/30/2015 - 21:43 - 0 comments

Saudi Cable Signs SR640 Million Debt Restructuring Deal

Saudi Cable Company has signed a deal with three of its main lenders to restructure SR640 million ($170.7 million) of debt, it said in a statement, Arab News reported. The debt will be restructured over a period not exceeding eight years, it said wit ...

Daily Headline - global.abi.org - 04/23/2015 - 23:00 - 0 comments

Hadef & Partners Legal Highlights

35 YEARS LEADING THE UAE LEGAL PROFESSION Just as the UAE has grown and developed since its formation in 1971, so have we. This year Hadef & Partners celebrates 35 years since its formation. In this our first newsletter of 2015, we would like to ex ...

Resource Article - twallace@abiwor... - 04/06/2015 - 08:43 - 0 comments - 0 attachments

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