English court refuses to hear Dana Gas's appeal in sukuk dispute:
"Dana Gas has lost an attempt to overturn English court rulings that backed creditors’ demands for the repayment of $700 million of Islamic bonds, the UAE company said on Monday.
The English Court of Appeal refused an application by the United Arab Emirates (UAE) company to appeal the November 2017 and February 2018 English High Court orders.
Dana Gas last year shocked the global Islamic finance industry when it stopped payments on its sukuk, which matured in October, saying that because of changes in the interpretation of Islamic finance rules the bond had become unlawful in the UAE. "
'via Blog this'
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