UAE's Jafar family behind lawsuit against Abraaj on $100 mln loan default -sources | Reuters:
"An ally of Abraaj’s founder Arif Naqvi has turned against the private equity firm after its financial woes deepened in the wake of allegations it misued investor money and defaulted on loans, three sources and court documents show. Badr Jafar, an Abraaj board member, is one of the main figures behind a lawsuit filed by a little-known fund in the Cayman Islands that could further push Dubai-based Abraaj towards liquidation, the sources familiar with the matter said. The petition was filed this month by Saint Vincent-based Auctus Fund against Abraaj Investment Management Ltd (AIML) for non-payment of a $100 million, according to a copy seen by Reuters."
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