Nakheel's pesky little sukuk

Bradley Hope and I had an article today about Nakheel's 2009 sukuk. I think it's the most comprehensive thing that's been written so far about Nakheel's struggle to repay the $3.5bn it used to finance many of its massive projects these past few years. Naturally, the sukuk is a thorny issue, but as Mr Hope and I (with an assist from Angela Giuffrida) write, it looks like the company will resolve it using a mixture of methods, possibly including buying back shares, getting loans from banks and paying investors using money channelled through Dubai's $20bn bond programme. Frustratingly, though, the issue is still unresolved, and as Abdul Kadir Hussain at Mashreq Capital told us, "the clock is ticking." Anybody care to venture exactly what the folks at Nakheel are most likely to do?