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TID’s debts to over 100 banks |
The Central Bank of Kuwait has refused to endorse a $3.5 billion restructuring of The Investment Dar (TID), the owner of UK car maker Aston Martin. Sources close to the negotiations say creditors were informed of the decision, which was also communicated through the Kuwaiti press, in mid-November.
“The central bank said it wouldn’t fly,” says Ali Khalil, chief operating officer of Kuwaiti investment firm Markaz, which is representing TID’s non-bank creditors – the biggest group, according to Khalil.
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