UPDATE 1-UAE's Jafar family linked to fund filing lawsuit against Abraaj -sources | Reuters:
"A family involved with Abraaj handed over debt exposure to the private equity firm to a little-known fund that has now filed a petition against Abraaj, deepening its financial woes, sources said. An adviser to the Jafar family said it was not party to the legal proceedings started by Auctus Fund in the Cayman Islands against Abraaj, although Hamid Jafar had provided Abraaj with a private loan which has since been transferred to Auctus. Dubai-based Abraaj has declined to comment on the petition. Badr Jafar, who sits on Abraaj’s board and is the son of Hamid, had not responded to Reuters request for comment on the lawsuit."
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