Abraaj founder faces fresh criminal complaint over $300m loan | Financial Times:
The founder of Abraaj has been hit with another criminal case in the United Arab Emirates for allegedly issuing a $217m cheque with insufficient funds, as the private equity group struggles to effect a court-driven restructuring.
Hamid Jafar, a prominent businessman, has opened another bounced cheque case in Sharjah only two weeks after the apparent resolution of an earlier $48m case.
The cheques relate to a $300m loan issued by Mr Jafar to Dubai-based Abraaj. Habib al-Mulla, lawyer for Abraaj founder Arif Naqvi, said the case was scheduled to be heard by a Sharjah court on August 14.
No comments:
Post a Comment