Kuwait's Global Investment House won a Dubai court ruling to get back $250 million from Abu Dhabi-listed National Bank of Umm Al Qaiwain, in addition to interest, a company spokesman said.
"The interest will be about $50 million," Global's spokesman told Reuters on Monday after the ruling. Last year, Global won a ruling from a Dubai court, which NBQ later appealed.
The $250 million was a deposit placed by Global with NBQ in August 2008 for a National Bank convertible bond issue. Global later cancelled the planned purchase, and wanted the money back, but National Bank denied it was entitled to keep it.
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