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(a) Bloomberg have a good reputation and their knowledge and ability to analysize the debt markets is one of the best available.

(b) I have worked in these markets for over 20 years and think that that article is a fair representation of what happened. Istithmar lost the equity and the investment. Simple really.

If there is something you want help with please just ask, as far as I am concerned the more people up to speed on what is going on the better

Knowledge is Power.

viking-warrior wrote:If there is something you want help with please just ask, as far as I am concerned the more people up to speed on what is going on the better

Thanks VW
Can you suggest some ramifications to the following 3 possibilities:
DW does not pay back debt.
DW pays back debt.
AD pays DW debt.

Ok , to move in into a" productive" discussion here, it appears that the UK banks are pushing things around "including the use of their media" to push Dubai World into selling its assets which is worth "$ 100 billion" which Dubai world rejected to sell in such a market knowing that those banks are trying to take advantage of the situation .

It's a smart move from those banks and I can't see why Dubai world is not looking at it as an option !

Maybe they gave them the fing.... and told them take or leave it, I mean the 6 month period, but why is everyone saying Dubai world is broke if it's true that they got this much assets ? waiting for the experts to comment on the above.

and those assets are the reason why Dubai or AD is not bailing Dubai world out , I guess.

uaekid wrote:Ok , to move in into a" productive" discussion here, it appears that the UK banks are pushing things around "including the use of their media" to push Dubai World into selling its assets which is worth "$ 100 billion" which Dubai world rejected to sell in such a market knowing that those banks are trying to take advantage of the situation .

It's a smart move from those banks and I can't see why Dubai world is not looking at it as an option !

Maybe they gave them the fing.... and told them take or leave it, I mean the 6 month period, but why is everyone saying Dubai world is broke if it's true that they got this much assets ? waiting for the experts to comment on the above.

and those assets are the reason why Dubai or AD is not bailing Dubai world out , I guess.

That s a good one !
So Dubai World is in default and does not pay back what it owes, but claims to be the good guy, and the banks who just want their money back are accused to take advantage.

sage & onion wrote:

BlackburnRovers wrote:Let me try to put a positive spin on this; the article you posted is a fabricated one made up by people jealous of Dubai.

I would like to see someone comment who actually knows how the debt market works. The whole article needs to be read and anylised prior to any kind of comment.

It's not fabricated.

Istithmar bought W Hotel and borrowed money from LEM to pay for it. When Istithmar defaulted on a loan repayment the hotel went up for auction and LEM bought it for $2m, but that included the loan.

BlackburnRovers wrote:Let me try to put a positive spin on this; the article you posted is a fabricated one made up by people jealous of Dubai.

bonk wrote:It's not fabricated.

Ah, I was a bit slow. You were being sarcastic?

capsicum wrote:

uaekid wrote:Ok , to move in into a" productive" discussion here, it appears that the UK banks are pushing things around "including the use of their media" to push Dubai World into selling its assets which is worth "$ 100 billion" which Dubai world rejected to sell in such a market knowing that those banks are trying to take advantage of the situation .

It's a smart move from those banks and I can't see why Dubai world is not looking at it as an option !

Maybe they gave them the fing.... and told them take or leave it, I mean the 6 month period, but why is everyone saying Dubai world is broke if it's true that they got this much assets ? waiting for the experts to comment on the above.

and those assets are the reason why Dubai or AD is not bailing Dubai world out , I guess.

That s a good one !
So Dubai World is in default and does not pay back what it owes, but claims to be the good guy, and the banks who just want their money back are accused to take advantage.

who is claiming or accusing ? this is the dirty world of money and Business. all of this goes under the category "Opportunity "

not that I give a crap about the company, I didn't even know Dubai had one LOL but many DFs gave their expert opinion that it can't pay and it is broke and I'm just pursuing this fact, still waiting for a clarification guys , don't be quit, lets get to the buttom of this issue.

uaekid wrote:but many DFs gave their expert opinion that it can't pay and it is broke and I'm just pursuing this fact, still waiting for a clarification guys , don't be quit, lets get to the buttom of this issue.

Dubai World themselves asked for a 6 month extension to the loan repayment deadline. In other words, they couldn't pay.

Anyway, Abu Dhabi bailed them out this morning. That makes it pretty clear that Dubai World wasn't in a position to pay.