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Dubai World unit sued by US-based hedge fund
A US-based hedge fund has launched legal action against Dubai’s Drydocks World for repayment of about $45.5m after the unit of troubled conglomerate Dubai World defaulted on loans in August, threatening to reignite debt fears in the Gulf emirate. Monarch Alternative Capital is suing the ship-repair company in the High…
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Click here to read the full story: Financial Times