RBS quits Dubai Group debt talks, Reuters says

Royal Bank of Scotland and two other lenders have abandoned talks on restructuring Dubai Group's $10bn debt and threatened to bring unprecedented legal action against the investment vehicle of Dubai's ruler, sources close to the matter have told Reuters.

Royal Bank of Scotland and two other lenders have abandoned talks on restructuring Dubai Group's $10bn debt and threatened to bring unprecedented legal action against the investment vehicle of Dubai's ruler, sources close to the matter have told Reuters.

Some observers believe the above is no more than posturing so as to achieve better terms but it is believed that the lenders could scupper the restructuring of the Middle Eastern companys debt which had seemed to be close to being signed just last week after two years of negotiations.

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