Dana Gas moves to lift court injunction in sukuk case - The National

Dana Gas moves to lift court injunction in sukuk case - The National:

"Dana Gas, a Sharjah-based oil and gas exploration firm, has filed an application with the emirate’s Federal First Instance Court to lift an injunction, protecting it against claims related to its US$700 million Islamic bonds or sukuk. Dana, which is embroiled in a row with its bondholders on restructuring of the outstanding sukuk, had received the Sharjah court injunction on 13 June, but moved to discharge it in compliance with a London court order, the firm said on Sunday in a statement to Abu Dhabi Securities Exchange (ADX), where its shares are traded. The injunction by the Sharia-court in Sharjah restrained the Trustee, the Delegate, the Principal Security Agent and others from taking any legal action against the company until pronouncement of final judgement by the Sharjah court in relation to the sukuk."



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