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Al-Mirsal Insights and commentary on legal developments in the Middle East

Category Archives: Restructuring & Insolvency

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US$2.2 billion Drydocks World Restructuring Approved in First Test Case under Dubai Decree No. 57

Posted in Restructuring & Insolvency

On August 28, 2012, the Special Tribunal related to Dubai World (the “Tribunal”) formally approved the restructuring of more than US$2 billion of debt of Drydocks World LLC and Drydocks World – Dubai LLC (together, “Drydocks”) under a syndicated term loan facility and separate hedging agreements, in the first restructuring approved under Dubai Decree No…. Continue Reading