Abu Dhabi stepped in to help troubled fellow emirate Dubai with $ 10 billion in financing . The company asked for a standstill of debts owed until May 30 as it begins restructuring its debt . `` Today the Government of Dubai will announce a comprehensive reorganization law , a framework that is based upon internationally accepted standards for transparency and creditor protection , '' the statement said . Dubai World shocked the financial world when it asked for a $ 26 billion freeze on debt payments . The move was seen as an attempt by Dubai's rulers to get out of their own debts and avoid being taken over by creditors, but many analysts said that this would only make matters worse.
Abu Dhabi stepped in to help troubled fellow emirate Dubai with $ 10 billion in financing . Dubai World shocked the financial world when it asked for a $ 26 billion freeze on debt payments . The move was seen as an attempt by Dubai's rulers to get out of their own debts and avoid being taken over by creditors, but many analysts said that this would only make matters worse.