Dubai: Government Will Not Stand Behind Dubai World Debt
http://www.calculatedriskblog.com/20...=Google+Reader
from Calculated Risk by CalculatedRisk
From The Times: Investors face huge losses as Dubai abandons debt company
http://business.timesonline.co.uk/to...cle6937612.ece
The Government of Dubai said today that it will not stand behind its wholly-owned subsidiary Dubai World, prompting fears that the company’s creditors could lose billions of dollars.
Today's comment, from Abdulrahman al-Saleh, the director general of Dubai’s Department of Finance, effectively confirms that country does not have enough money to repay Dubai World’s $60 billion of liabilities. ...
From the Financial Times: Dubai official confirms no guarantee
http://www.ft.com/cms/s/0/b0805f64-d...44feabdc0.html
From MarketWatch: Dubai World debt not backed by governmentfficial
http://www.marketwatch.com/story/dub...ial-2009-11-30
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