Sunday, November 29, 2009

Deloitte Versus KPMG in Dubai World Saga





Just in the last few days, Dubai World (DW) shocked investors all across the world in announcing that it will take steps to seek a six month standstill period on payments of interest and principal on $59 billion of its outstanding debt. This terse and surprising announcement on late Thursday November 25, 2009, the eve of a national holiday in Dubai, spooked stockmarkets all over the globe, with Asian and European markets reacting immediately on open with a 3% drop, before recovering somewhat over the day on Friday...




2 comments:

Anonymous said...

Where the hell did you find the information that KPMG was appointed??? Without referencing information I can say that they have hired Marsians... Details please...

www.Big4.com said...

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6986897.ece

Here's an excerpt from the TimesOnlines today about KPMG being an advisor to UK banks