DUBAI (Reuters) – Dubai state-owned property developer Limitless is set to reach an agreement with creditors over some $760 million of troubled debt, documents seen by Reuters showed – its third restructuring in a decade.
Limitless, along with Nakheel, was among the biggest casualties of Dubais property crash and the subsequent debt crisis that began in 2009.
It plans to enter into a lock-up agreement – a precursor to a long form term sheet and definitive documentation – with an ad-hoc group of creditors by the end of this month and with rema…
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