Nakheel has paid creditors $1.25bn
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Nakheel has paid creditors $1.25bn

Nakheel has paid creditors $1.25bn

Dubai-based property developer Nakheel has paid to date a total of Dhs4.6bn ($1.25bn) to its creditors and expects its restructuring to be finalised before the end of first half of 2011, Gulf News has reported. "Today's announcement marks significant progress in our recapitalisation plan, following on from the initial payments to trade creditors of Dhs500,000 or less, which commenced in March 2010," Nakheel said in a statement.

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