Aston Martin's Kuwaiti Co-Owner Struggles With Debt

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The Kuwaiti co-owner of Aston Martin, Investment Dar, will hold talks with creditors this week as it fights to avoid a fire sale of assets including its stake in the British luxury-car maker.

The Islamic investment firm is working with creditors to restructure about 1 billion Kuwaiti dinars ($3.5 billion) of debt, but a dispute with the central bank over its 2008 financial results and lawsuits from some creditors is slowing the process, persons familiar with the plan told Zawya Dow Jones. The dispute with the central bank revolves around the level of provisioning, the people said.

Dar filed a court case against the central bank in July last year due to its refusal to approve the 2008 results. The central bank appointed a monitor in September last year to supervise the debt-restructuring process and financial results.