Dubai World to meet creditors July 22-sources

* Meeting to detail debt deal to remaining banks

* First all-bank meeting since December

By Nicolas Parasie and Rachna Uppal

DUBAI, July 11 (BestGrowthStock) – Troubled state conglomerate Dubai
World [DBWLD.UL] has invited creditors to a July 22 meeting to
offer details on its proposed debt restructuring, the first such
session to include all lenders since December last year.

Three sources from among the group’s 80 creditors told
Reuters they had received the invitation via the coordinating
committee of seven banks that hold 60 percent of Dubai World’s
$14.4 billion in bank debt.

The flagship state conglomerate, which shocked investors in
November with news it could not pay its debts, will try to
secure wider backing from the meeting for an outline
restructuring deal struck with a coordinating commmittee of
lenders in May.

(Reporting by Nicolas Parasie and Rachna Uppal)

Dubai World to meet creditors July 22-sources