London court adjourns Dana Gas sukuk trial

London court adjourns Dana Gas sukuk trial:

"A London High Court judge has adjourned hearings on whether the United Arab Emirates’ Dana Gas must redeem $700 million of Islamic bonds when they mature at the end of this month, sources familiar with the matter said on Friday. High Court judge George Leggatt is expected to resume the hearings by Nov. 13, the sources said. In a complex case that is being fought in British and UAE courts, Dana is refusing to make payments on the sukuk on the grounds that changes in Islamic finance over recent years have made the bonds unlawful in the UAE."



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