Investment Dar wins lawsuit against CBK

Kuwait's Islamic firm Investment Dar said on Tuesday it has won a lawsuit against Commercial Bank of Kuwait (CBK) to suspend the sale of a stake in Boubyan Bank.

"The court ruled ... to suspend trading in Boubyan Bank shares which belong to Investment Dar and its related firms which amounted to 221,425,059 shares and are temporarily registered under the name of Commercial Bank of Kuwait," Dar said in a statement on the Kuwaiti bourse website.

The court halted the deal until it rules in another lawsuit filed by Dar against CBK, for which the hearing is set on Sept. 9, 2009.