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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Dubai World has turned to a number of its long-standing advisers on its restructuring and debt standstill.
After the markets closed last night the Dubai Government announced that it would seek an extension of maturities of all financing to the indebted holding company, which is believed to owe around US$22bn (£13bn). The company, owner of the troubled Palm Jumeirah real estate developer Nakheel, will be restructured.
Clifford Chance’s Dubai office is understood to be advising Dubai World, with partners Simon Clinton and Robin Abraham thought to have key roles.
Latham & Watkins is believed to have a role on matters linked to the debt standstill, and Allen & Overy is thought to have a role advising the lenders, which are understood to include Barclays, Credit Suisse, HSBC, Lloyds and RBS.
Despite the problems in some parts of Dubai World’s business, other units have experienced success. DP World for example, which owns the P&O Ferries brand and the Port of Tilbury in Essex, has thrived.
None of the firms, nor Dubai World itself, would comment on the developments.