Deals
Abraaj Seeks Court-Led Restructuring as It Battles Creditors
- Filing in Cayman Islands; seeks PwC as provisional liquidator
- Fund managed about $14b; Gates Foundation among investors
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Abraaj Holdings, once one of the developing world’s most influential investors, filed for a court-supervised restructuring as it battles allegations of misused funds.
The buyout firm made the filing in the Cayman Islands to protect the rights of its stakeholders and restructure its debt, according to an emailed statement. The filing seeks to appoint PricewaterhouseCoopers as the provisional liquidator, which will impose a moratorium on all unsecured claims.