Published by Zeb BhamThe news that Dubai is seeking to delay payment on much of its $59 billion worth of liabilities has rattled stock, commodities and currency markets and led to widespread risk aversion.Abu Dhabi Commercial Bank looks to have the largest exposure of any company outside Dubai, with the lender thought to be owed as much as $1.9 billion by Dubai World, the emirate's state-managed investment group and real estate developer.Speaking to Bloomberg this morning (November 27th), Ala'a Eriquat, the chief executive officer of Abu Dhabi Commercial Bank, the third-largest lender in the United Arab Emirates, stated: "We are in touch with Dubai World and we have been in discussions more than once today and yesterday. We have a lot of assurances, which is a good thing."Following the revelation, stocks slumped broadly in the European session and are continuing to drop in Asia this morning.High-risk currencies were also hit hard by a wave of risk aversion, with the Mexican peso registering its largest fall in four weeks.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site