UK injunction restricts Dana Gas dividends in $700mln sukuk dispute | ZAWYA MENA Edition:
"United Arab Emirates energy firm Dana Gas DANA.AD said on Sunday it had received a new injunction from the English High Court restricting its ability to pay dividends or increase its debt. The injunction is the latest salvo in a complex legal battle in the UAE and Britain which began last year when Dana halted payments on its $700 million of Islamic bonds, arguing the sukuk had become unlawful because of changes in Islamic finance. Since then, sukuk holders have been trying to force the company to redeem the sukuk. The latest order was obtained by Putnam SPV 4 LLC, a special purpose vehicle managed by Contrarian Capital Management, Dana said in a statement."
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