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Published on 7/24/2017 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

UAE’s Dana Gas takes available steps to comply with injunction order

By Caroline Salls

Pittsburgh, July 24 – Dana Gas PJSC has taken all of the necessary and available steps open to it to comply with an order of the English High Court of Justice to lift an injunction issued in the United Arab Emirates and stay the UAE proceedings, according to a news release.

As previously reported, the order continued the English injunction sought by the company restraining its delegate, trustee and security agents.

Dana said it obtained legal advice from UAE counsel on the requisite steps to take in compliance with the English Court Order, and also made applications to the Sharjah court for procedural directions.

According to the release, UAE counsel advised that based on UAE civil procedure and directions obtained from the Sharjah court, the required steps must be made jointly by the company and all the respondents to the judges appointed by the Sharjah court to hear and determine the UAE proceedings.

The company said the Sharjah court further directed that these steps can only be taken following the July/August Sharjah court judicial recess and once the respondents located outside the UAE have been formally served using the officially mandated diplomatic service process, which can take between three and six months to complete.

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


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