Al Murooj Rotana hosts key Dubai debt meeting
Result unknown of five-hour meeting between Dubai World and creditors
Al Murooj Rotana in downtown Dubai hosted the meeting between Dubai World and some of its creditors yesterday.
Details of the outcome of the five-hour meeting were not initially released, but financial institutions are anxious to learn about plans for the restructuring of US $26 billion of debt.
The majority of bankers leaving the hotel ignored questions from the press and a representative for Dubai World declined to comment.
Dubai World's chief restructuring officer, Deloitte's Aidan Birkett, met with bankers early Wednesday afternoon after the government-owned conglomerate announced in November it would seek a six-month standstill on its debt.