Dubai World has 100 pct creditor assent for $14.6 bln debt deal -court

DUBAI Sun Feb 15, 2015 2:24am EST

DUBAI Feb 15 (Reuters) - State-owned conglomerate Dubai World has received approval from all creditors for a $14.6 billion restructuring plan, and the court administering the process has been adjourned until May 10, according to court proceedings on Sunday.

The adjournment, ordered by Sir Anthony Evans, chairman of the Dubai World Tribunal, will allow time for all creditors to sign an agreement which formally pledges each will assent to the plan put forward by Dubai World.

Dubai World entered the tribunal process last month after passing the threshold needed to change the terms of its existing restructuring. (Reporting by Tom Arnold; Writing by David French; editing by John Stonestreet)

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