Dubai debt group looks to Ashurst

Ashurst has picked up a key role advising a group of bondholders in relation to Dubai’s debt standstill. A group holding more than 25 percent of the nominal value of certificates worth a total of $3.5bn (£2.1bn) have turned to the top 10 firm. The notes, issued by Dubai World subsidiary and property developer Nakheel, are due 14 December.