Sunday 18, June 2017 by Nabilah Annuar

England high court issues injunctions on trustees, delegates and security agents in the Dana Gas cas

Dana Gas, the Middle East’s largest regional independent natural gas company, has provided a market update on the Abu Dhabi Securities Exchange on the results of a further legal proceeding commenced in England in line with disclosure requirements.

On 16 June 2017 Dana Gas filed a pre-emptive law suit in the English High Court of Justice in London to protect its interests against any hostile action in connection with its Sukuk Al-Mudarabah by representatives of the Sukukholders. The Court granted the Company an injunction restraining the said representatives (Trustee, Delegate and Security Agents) from taking any such actions. As previously disclosed, the company has already obtained similar injunctions in the UAE and BVI courts.

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