Nakheel faces lawsuit over unpaid bills


For Al-Shorfa.com
2010-05-26


A billboard company filed a lawsuit against indebted property developer Nakheel in a case that is expected to set a precedent for other creditors seeking payment. The $2.7 million dollar claim was filed by Trinet Outdoor Advertising at the Dubai World Tribunal, set up by Dubai's ruler Sheikh Mohammed al-Maktoum following the announcement last fall of a financial crisis within the Dubai World conglomerate. Trinet alleges it was not paid for six outdoor billboards. Nakheel, the propery arm of Dubai World, declined to comment.

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