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Dubai bailout fails to cheer UK creditors

By Olivia Boyd and Olivia Boyd Olivia Boyd2009-12-18T01:37:00+00:00

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$10bn rescue by Abu Dhabi unlikely to lead to quicker debt repayments

This week鈥檚 $10bn (拢6.2bn) bailout by Abu Dhabi of beleaguered developer Dubai World is unlikely to mean that UK creditors are paid quickly, according to UK construction industry leaders.

On Monday, the debt-stricken government of Dubai said repayment of contractors in the region was a priority and it would begin talks with creditors shortly. UK firms are thought still to be chasing at least 拢250m across the UAE.

Philip Youell,