<p> The meeting would be the first formal encounter between Dubai and key lenders since the conglomerate that spearheaded Dubai’s rapid growth disclosed its debt woes on November 25.<br /><br />An Abu Dhabi bank executive said Standard Chartered, HSBC, Lloyds and Royal Bank of Scotland, along with Emirates NBD and Abu Dhabi Commercial Bank were on the creditors panel.<br /><br />The banks did not immediately confirm their participation on the committee. But a source at a Dubai-based bank confirmed the makeup of the panel.<br /><br />Dubai World has asked creditors of its flagship property firms Nakheel, developer of three palm-shaped islands in the Gulf, and Limitless for a six-month debt repayment standstill as part of a restructuring plan. The most urgent question is the fate of Nakheel’s $3.52 billion Islamic bond, which matures on December 14. The IMF said banks from Britain are the most exposed to the conglomerate.<br /><br /></p>
<p> The meeting would be the first formal encounter between Dubai and key lenders since the conglomerate that spearheaded Dubai’s rapid growth disclosed its debt woes on November 25.<br /><br />An Abu Dhabi bank executive said Standard Chartered, HSBC, Lloyds and Royal Bank of Scotland, along with Emirates NBD and Abu Dhabi Commercial Bank were on the creditors panel.<br /><br />The banks did not immediately confirm their participation on the committee. But a source at a Dubai-based bank confirmed the makeup of the panel.<br /><br />Dubai World has asked creditors of its flagship property firms Nakheel, developer of three palm-shaped islands in the Gulf, and Limitless for a six-month debt repayment standstill as part of a restructuring plan. The most urgent question is the fate of Nakheel’s $3.52 billion Islamic bond, which matures on December 14. The IMF said banks from Britain are the most exposed to the conglomerate.<br /><br /></p>