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Al Barakah declares insolvency
- United Arab Emirates: Saturday, January 10 - 2009 at 09:33
Al Barakah property development company with projects in Dubai and Ajman yet to take off the ground, has told investors it is insolvent, The National has reported. Lawyers acting for the company told investors in a meeting that the company had at least Dhs400m unsecured liabilities. Burj Manara Ajman in Marmooka City, billed as the tallest tower in Ajman was one of its projects.
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Medilyn Manibo, Assistant News EditorSaturday, January 10 - 2009 at 09:33 UAE local time (GMT+4)
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This article was updated on Sun Jan 11 2009.
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