Furious investors warn troubled Dubai it will 'never raise a penny again'
Furious bondholders have arranged emergency talks with Dubai officials this week in an effort to get some clarity on the financial health of the state-owned company Dubai World, which caused widespread panic on world markets last week when it asked creditors for a six-month standstill on debt repayments. A conference call has been organised by the New York-based hedge fund QVT Financial, after an attempt last week was abandoned when the telephone system collapsed under the weight of calls. Investors are angry that the announcement was made at the start of the Islamic Eid and US Thanksgiving holidays, leaving them...
Original Article: Forum: News/Activism
Tags: Bondholders, Clarity, Conference Call, Creditors, Debt Repayments, Dubai, Eid, Emergency Talks, Financial Health, Hedge Fund, Investors, Owned Company, Standstill, Telephone System, Thanksgiving, Thanksgiving Holidays, Widespread Panic, World Markets