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    Drydocks World provides update on restructuring

    Company News // March 29, 2012

    Following on from Drydocks World’s formal launch of its restructuring proposal at its all lender meeting  in Dubai on 8 March 2012, the group has taken one step nearer to successfully concluding its restructuring by signing a lock-up agreement intended to formally secure its lenders support.

    Having had time to consider the Group’s proposals since 8 March 2012, over the coming days the Group’s syndicated facility lenders will be asked to sign up to the lock-up agreement and hence formally confirm their support for the Group’s proposals.

    The group remains extremely confident it can secure the necessary support of its syndicated lenders by 2 April 2012 to successfully implement its restructuring, according to Khamis Juma Buamim, Chairman, Drydocks World and Maritime World.

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