News Summary: RBS ends debt talks with Dubai firm

Published July 10, 2012 5:59pm ET



NO DEAL: The Royal Bank of Scotland backed out of talks with Dubai Group, an investment company controlled by the emirate’s ruler, to rework terms on $10 billion in debt.

DEBT LOAD: The latest impasse is a reminder of challenges still facing Dubai’s state-linked companies. They and the government are estimated to carry more than $100 billion in debt.

THEY TRIED: RBS said it and other lenders presented a number of restructuring proposals that would have allowed Dubai Group to continue operating while meeting its obligations to its creditors.