North Africa/Middle East
Results for North Africa/Middle East
- 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
- Secured Creditors Of Espirito Santo Dubai Unit To Get 82.7 Percent Payout
Liquidators for ES Bankers (Dubai) Ltd (ESBD) have estimated they will pay out 82.7 percent of the $93.5 million owed to depositors in the stricken bank, advisory firm Deloitte said on its website, Reuters reported. However, unsecured creditors of the Du ...
Daily Headline - global.abi.org - 03/23/2015 - 20:36 - 0 comments
- UAE Insolvency Law Closer To Reality
At the start of a new year, the UAE’s lawyers, bankers, small business owners and, indeed, government officials, are still waiting for the country’s new insolvency bus – sorry, law –to arrive. But the signs are that after many years of standing at the bu ...
Daily Headline - global.abi.org - 01/28/2015 - 22:37 - 0 comments
- UAE Insolvency Law: Priority For Business Growth
Towards the end of last year, it was announced that the UAE’s long anticipated reform of the insolvency reform bill was reaching its final stages prior to implementation, Emirates 24/7 reported. The legal framework was drawn up following the establishmen ...
Daily Headline - global.abi.org - 01/25/2015 - 22:36 - 0 comments
- Dubai's Limitless Nears Creditor Assent For Debt Extension
Dubai government-owned property developer Limitless has secured the agreement of 85 percent of its creditors for a three-month extension to a debt repayment due at the end of 2014 and for a proposed restructuring plan, its chairman said, Reuters reported ...
Daily Headline - global.abi.org - 01/21/2015 - 23:32 - 0 comments
- Dubai World Gets Majority Creditor Backing For $14.6 Billion Debt Deal
State-owned conglomerate Dubai World edged closer to a second major restructuring in four years on Monday after announcing it had reached agreement with a "substantial majority" of creditors to back its $14.6 billion debt deal, Reuters reported ...
Daily Headline - global.abi.org - 01/13/2015 - 01:40 - 0 comments
- Dubai's Limitless Asks For More Time After Missing Debt Deal Deadline
Limitless, a Dubai government-related real estate developer, has asked for a three-month extension to talks with creditors after failing to secure a new restructuring deal on its $1.2 billion debt pile, four banking sources told Reuters on Thursday. The ...
Daily Headline - global.abi.org - 01/08/2015 - 23:34 - 0 comments