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Shariah Compliance Does Not Affect English Law Payments

Law360, New York (February 2, 2018, 11:50 AM EST) -- Participants in the Middle East (and wider) Islamic finance markets held their breath during much of 2017 pending the English High Court’s Nov. 17, 2017, decision in Dana Gas PJSC v Dana Gas Sukuk LTD & Ors [2017] EWHC 2928.

Underpinning the high court’s decision was its consideration of whether unenforceablity as a matter of the law of the purported place of enforcement of English law governed obligations, would (or should) have any bearing on the enforceability of such obligations.

The Case Background

In spring 2017,...
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