Dubai World, the state-owned holding company seeking to restructure $14.2 billion of debt, has offered creditors a so-called shortfall guarantee as part of a repayment plan, a person close to the Dubai government said.

If the sale of Dubai World's assets does not generate sufficient cash to repay loans, the government will make up the shortfall up to a certain level, said the person, who declined to be identified because the discussions are private. The guarantee clause was not outlined in Dubai World's announcement last week when the restructuring plan was announced.

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