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Sunday, 18 June 2017

UAE's Dana Gas gets injunction from English court blocking claims on $700 mln sukuk | Reuters

UAE's Dana Gas gets injunction from English court blocking claims on $700 mln sukuk | Reuters:

"Dana Gas said on Sunday it had obtained an injunction from the English High Court of Justice in London restraining holders of its $700 million of sukuk from taking any hostile action against the company in relation to the Islamic bonds. Last week, the company obtained similar injunctions from the Sharjah Federal Court of First Instance in the United Arab Emirates and from the Commercial Division of the High Court of Justice in the British Virgin Islands. The Abu Dhabi-listed energy company announced last week that its outstanding sukuk were not sharia-compliant and were therefore unlawful and unenforceable in the UAE."



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