Wednesday 20, September 2017 by William Mullally

Dana Gas UK trial adjourned until tomorrow

The London High Court judge, Reuters reported, still aims to complete the trial within two weeks.

On Tuesday in the UK, a high court judge based in London announced that the court had adjourned until 21 September, Reuters has reported. The trial is over Dana Gas’ potential non-Shari’ah-compliant Sukuk.

The Islamic finance world has been keeping a close eye on the outcome of the trial, as it should have big implications to Islamic finance and the broader Islamic economy.

According to Reuters, the decision to adjourn was the result of Dana Gas’s lawyers said that progress wasn’t possible as the client was not at the trial. Shareholders also obtained an injunction in the UAE in order to stop the UK trial.

The London High Court judge, Reuters reported, still aims to complete the trial within two weeks.

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