Judgment in 'bounced check' case against Abraaj CEO postponed to Aug. 28: lawyers | Reuters:
A United Arab Emirates court postponed judgment until Tuesday in a case against the founder of private equity firm Abraaj, Arif Naqvi, and another executive for issuing a check without sufficient funds, two lawyers close to the case said.
The criminal case in the emirate of Sharjah relates to a check for 798.9 million dirhams ($218 million), signed by Naqvi and fellow executive Rafique Lakhani, and written to Hamid Jafar, another founding shareholder in Abraaj.
Dubai-based Abraaj has filed for provisional liquidation in the Cayman Islands after months of turmoil related to a row with investors over the use of their money in a $1 billion healthcare fund. Liquidators are also seeking to sell its investment management business.
No comments:
Post a Comment