Financial Troubles
In early 2009, Dubai World sued its joint venture partner MGM Resorts International for breach of contract and thus decided to not make its payment of US$200 million in financing, required to keep the project on track. By April 17, 2009, MGM Resorts International and Dubai World had agreed to a set of terms that would ensure the completion of CityCenter.
Read more about this topic: City Center
Famous quotes containing the words financial and/or troubles:
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)
“This is an hour of history that troubles our minds and hurts our hearts.”
—Gerald R. Ford (b. 1913)