The Dubai debt crisis has proved a rude wake-up call for bond markets about government debt mountains.
Dubai World has now begun discussions with creditors on $26bn of its debt. Of that $3.5bn of the bonds are the most pressing.
Resolving that issue will be the litmus test for how Dubai World will deal with the rest of its financial problems.
The BBC's Katy Watson spoke to Khawar Qureshi QC, a leading barrister with chambers in London and Qatar, about what rights the bond holders have if they do not get their money back from Dubai.
One-Minute World News 
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