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Tag Archives: dubai going bankrupt
Dubai World loses control of New York hotel (1)
NEW YORK (AP) – Dubai World’s investment arm, Istithmar, lost ownership of the W Union Square New York hotel in a foreclosure auction Tuesday. One of the hotel’s interim lenders, a private equity firm called LEM Mezzanine, acquired the 270-room … Continue reading
Dubai scrambles to ease debt fears
DUBAI/LONDON — Dubai struggled to ease fears of debt default on Thursday after its move to delay repayments at two flagship firms shook confidence in the Middle East as a centre for investment and a source of capital. Dubai’s debt … Continue reading