Article length: 248 words
UAE: Dana Gas goes to court to push through sukuk restructuring
In an unusual move, Sharjah-based Dana Gas has been granted injunctions by courts in the UAE, UK and British Virgin Islands (BVI) to prevent bondholders disrupting its plans to have a $700m sukuk declared unlawful and unenforceable. On 13 June the energy company received an injunction from the Sharjah Federal Court of First Instance, pending a full hearing about the sukuk which is due to take place on 25 December.
Credit value: 1