Over the last few years there have been a number of very substantial and high profile distressed situations in the Middle East and North Africa. A combination of the financial crisis, the “Arab Spring” and more recently fluctuations in petrodollar have hit some of the regions’ companies extremely hard. Whilst a number of these companies have been able to agree creditor compromises and move forward there are other companies who continued to be burdened by debt (and occasionally conduct) issues.
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