ABU DHABI: Dubai property developer Limitless, one of the biggest casualties of the emirate’s financial crisis in 2009, may end up taking close to two decades to complete its debt restructuring under the timeline of its new plan.
Limitless gave secured lenders – both banks and trade creditors – two options, according to a recent presentation to creditors that shows the company owes around 2.8 billion dirhams (US$762mil or RM3.1bil). Sources confirmed the details of the proposal.
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