LONDON: Hopes of a solution have risen after the Abraaj group founder Arif Naqvi made last-ditch efforts to rescue the remaining business of his emerging markets empire and the Cayman Islands agreed to an extension for Abraajs joint provisional liquidators to devise a restructuring proposal over the next three months.
The Grand Court of the Cayman Islands has agreed to an extension for Abraajs joint provisional liquidators, led by PwC and Deloitte, to devise a restructuring proposal which will save Abraaj investors from years of lawsuits and advisor fees.
It has been learnt that Arif Naqvi, the Karachi born emerging markets business leader who has worked from Dubai for more than 25 years, met limited partners and …
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