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Thursday, 6 July 2017

UPDATE 1-London court to hear Dana Gas sukuk case in September | Reuters

UPDATE 1-London court to hear Dana Gas sukuk case in September | Reuters:

"London's High Court plans to hold a full hearing in September on efforts by Abu Dhabi-listed Dana Gas to restructure $700 million of its Islamic bonds, sources familiar with the case said on Wednesday. The sources were speaking after a High Court judge heard legal arguments from Dana Gas and Deutsche Bank, which is representing investors in the Islamic bonds, or sukuk. Dana Gas declared the bonds invalid last month, saying they were no longer compliant with changing interpretations of the Islamic sharia code and had therefore become unlawful in the United Arab Emirates."



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