Three bankers who attended a presentation regarding the Dubai crisis said that Dubai World module inform a standstill substance to banks in primeval Jan as the state owned retentive consort attempts to restructure about $22 billion of debt.
The bankers who refused to be identified due to the concealment of the meeting said that, Dubai World, which owns property organisation Nakheel, and private justness company Istithmar, told lenders that it needs time to allow its assets to better from the modify in value following the credit crunch.
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