Dana Gas interim preliminary injunction continued to September trial

By Caroline Salls

Pittsburgh, July 17 – Dana Gas PJSC’s interim U.K. injunction was extended by the High Court of Justice in London until a September trial related to a lawsuit filed to protect its interests against any adverse actions tied to its sukuk Al-Mudarabah, according to a news release.

“The English judge found, on the two key tests for the continuation of an injunction under English law, that Dana Gas has a ‘seriously arguable case’ and that the balance of justice was in favor of the company,” the release said.

In connection with the injunction order, the judge directed Dana Gas to have a similar injunction issued by a UAE court lifted as against a delegate and trustee and to stay the legal proceedings there until the outcome of the U.K. trial in order to avoid duplication in multiple jurisdictions.

The company said it “remains keen to engage with sukukholders and to reach an agreement on a consensual basis.”

Dana Gas is a private sector natural gas company based in Sharjah, the United Arab Emirates.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.