#Kuwait’s Investment Dar seeks creditor backing for new $2.7bn debt plan

Kuwait’s Investment Dar has offered to hand assets to creditors immediately in order to win them over to its latest plan to restructure debts of KD 813m ($2.7bn). Investment Dar has had mixed success in restructuring its debts since getting into trouble during the financial crisis. Its latest attempt, called Al Sharq, promises to immediately hand over control of assets in the company to creditors, while also guaranteeing that shareholders will not get paid until all creditors are paid.