Yet another saved by the bail out bell as the bubble pops story is emerging, this time Dubai World.

Abu Dhabi’s government provided $10 billion for Dubai’s financial support fund to help repay obligations, including the $4.1 billion needed for Nakheel PJSC’s Islamic bond maturing today.

You can bet stocks are going to take off like a rocket tomorrow.

Dubai is also quickly throwing together a comprehensive restructuring law, following international standards for transparency and creditor protection (for us Western folk, read corporate bankruptcy), and issued this statement:

This law will be available should Dubai World and its subsidiaries be unable to achieve an acceptable restructuring its remaining obligations.