A Dubai court has approved the opening of bankruptcy proceedings for Arabtec Holding and six of its units. The court last week approved the liquidation of Arabtec and its six subsidiaries namely, Arabtec Construction Abu Dhabi, Arabtec Construction Dubai, Austrian Arabian Ready Mix Concrete (AAC) and Arabtec Precast, in addition to Emirates Falcon Electromechanical Co (EFECO) Abu Dhabi and EFECO Dubai . The court appointed a trustee for each of ...