The past four months have seen a steady trickle of news that has broken in to a full flood of revelations in recent weeks, concerning Abraaj Group’s funds, and allegations of poor corporate governance.
Last Thursday, the former golden child of the regional private equity scene filed for provisional liquidation in the Cayman Islands, as it seeks to execute a $1 billion debt restructuring.
On today’s podcast, we try to decipher how Abraaj reached this point, and we talk about where things go from here.
Dubai-based Abraaj has restructuring approved by Cayman Islands court.
With the company filing for liquidation, creditors and investors are scrambling to retrieve their money, including publicly traded companies such as Air Arabia.
Many are asking how, and when, these firms will get their money back, and what will be done in the future to prevent this kind of thing happening again.
Source: Gulf News