Nakheel: We've paid Dh7.3b to creditors since 2010Thursday, December 08, 2011
Dubai: Nakheel, Dubai property developer, said Thursday it had paid $2 billion (Dh7.3 billion) to trade creditors, following the restructuring of the company, since 2010.
“We are pleased to announce that Nakheel has to date made payments of Dh7.3 billion to its trade creditors,” a Nakheel spokesperson said.
“Today’s announcement marks another significant progress in our recapitalization plan, following on from the initial payments to trade creditors of Dh500,000 or less, which commenced in March 2010. Nakheel has completed its financial restructuring in August and work is progressing well as scheduled.”Source: [Gulf News]