Advertisement
|01 February, 2018

London court again finds for creditors in Dana Gas sukuk dispute

A London High Court judge again ruled in favour of creditors in a dispute over whether Dana Gas must repay $700mln of Islamic bonds

UAE's Dana Gas building in Cairo.

UAE's Dana Gas building in Cairo.

REUTERS/Mohamed Abd El Ghany
DUBAI - A London High Court judge again ruled in favour of creditors on Thursday in a dispute over whether United Arab Emirates energy company Dana Gas must repay $700 million of Islamic bonds, a source familiar with the court proceedings said.

Judge George Leggatt rejected an attempt by the company to overturn his decision last November that the purchase undertaking behind the sukuk was valid and enforceable.

There was no immediate comment from Dana.

(Reporting by Davide Barbuscia; Writing by Andrew Torchia) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))