Dubai-based real estate finance company Amlak Finance said it has been unable to execute a debt-restructuring agreement owing to one of its creditors abstaining from signing the deal. 

 

Amlak had previously obtained the approval of all the company's creditors for the debt restructuring and had been working to get them to sign an agreement.

 

While 26 of the financiers have signed the deal, one had abstained from signing it, stated Amlak Finance in its filing to the Dubai Financial Market.

 

Owing to the new development, Amlak’s board resolved to present the matter to the company’s

shareholders a the upcoming General Assembly Meeting for their consideration, it added.-TradeArabia News Service