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Despite word that the state-owned holding company Dubai World has reached agreement with lender banks to restructure $23.5 billion in debt, lawyers familiar with the talks say there is still work to be done before the deal can be finalized. Sources tell The Am Law Daily that Dubai World and the coordinating committee must hammer out the documentation and convenants -- and more importantly, both sides must agree to a formal term sheet memorializing their agreement in principle that must also be blessed by a larger lender group.
May 21, 2010 at 12:00 AM
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The original version of this story was published on Law.Com
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