Creditors of Dubai World are assessing their options in light of the announcement that the state-owned company is suspending repayments on debts of someUS$60 billion.
British banks such as HSBC, RBS and Lloyds, along with the US hedge fund QVT, have considerable exposure to Dubai’s flagship holding company - the force behind the still incomplete ‘mega-projects’, such as The World and the Palm artificial islands.
Dubai’s ruler, Sheikh Mohammed bin Rashid...
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