Reuters – A potential $2.2 billion debt restructuring for Drydocks World, the shipbuilding arm of indebted Dubai World DBWLD.UL, is seen facing tough headwinds with the presence of hedge funds and a lack of government aid seen threatening an amicable deal.
Drydocks has set up a committee to thrash out an agreement for the restructuring of its $2.2 billion debt pile. The firm missed a payment deadline for a $1.7 billion three-year loan facility that it took in October 2008. It also has another five-year $500 million facility on the restructuring table.
