Bloomberg News

Nakheel’s Former CEO Sues the Developer for Breach of Contract

June 23, 2011

June 23 (Bloomberg) -- Nakheel PJSC’s former chief executive officer, Chris O’Donnell, is suing the company for breach of contract in the Dubai World Special tribunal.

The CEO, who resigned from the company on June 9 after five years at the developer’s helm, filed a lawsuit yesterday without saying how much he’s seeking, according to court records. Nakheel has 14 days to acknowledge the claim.

A spokeswoman for Nakheel declined to comment. The builder of palm tree-shaped islands off Dubai’s coast is restructuring $10.5 billion of debt.

--Editors: Ross Larsen, Andrew Blackman.

To contact the reporter on this story: Zainab Fattah in Dubai on zfattah@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net.


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