Abraaj seeks court-supervised restructuring as it battles creditors

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 stak holders and restructure its debt, according to an emailed statement.

The filing seeks to appoint Price Waterhouse Coopers as the provisional liquidator, which will impose a moratorium on all unsecured claims.

 
The filing “will create a more controlled basis for moving forward, without impacting the