Rasameel Calls for the formation of GCC/MENA Creditor Group of Nakheel & Dubai World

Published December 6th, 2009 - 12:11 GMT

Rasameel Structured Finance Company (“Rasameel”), a leading Kuwaiti based Islamic structured finance investment company has announced that in response to the Government of Dubai's and the Department of Finance's press release dated 25 November 2009, it proposes to create and co-ordinate a working group of all GCC & MENA capital market creditors of Nakheel and Dubai World to ensure a unified position is presented to the Dubai Financial Support Fund (“DFSF”) and the Chief Restructuring Officer (“CRO”) in respect of GCC/MENA capital market creditors. 

The key objectives of the working group will be to, inter alia:

1. Create a unified platform for addressing the interests of the GCC/MENA creditors with the DFSF and CRO.

2. Ensure an equitable settlement in the interests of all GCC/MENA capital market creditors is achieved.

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