National Bank of Umm Al Qaiwain (NBQ), a bank in the United Arab Emirates, said on Wednesday it had won a delay in a $250 million judgement against it in a case involving Kuwaiti group Global Investment House .
The sum was placed with NBQ in August 2008 as the first part of Global's purchase of a 20 percent stake in the bank through a 2.36 billion dirham ($643 million) convertible bond issue.
As markets slumped in late 2008 and Global faced debt problems which forced it into a restructuring, it cancelled the planned purchase and asked for the money back. But NBQ said it was entitled to keep it.
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