Dana Gas Suffers Setback In $700M Islamic Bonds Dispute

Law360, London (February 1, 2018, 5:18 PM GMT) -- Dana Gas PJSC suffered another setback in its protracted legal battle to have $700 million in Islamic bonds invalidated on Thursday when a High Court judge in London ruled again in favor of bondholders including BlackRock Inc., saying the purchase was valid.

Judge George Leggatt rejected an attempt by the United Arab Emirates energy company to set aside his November ruling that the purchase undertaking behind the bonds, known as sukuk, was valid and enforceable. The energy company has said it would appeal against the judgment...
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