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Kuwait's Investment Dar files for legal protection
Investment Dar, the troubled Kuwaiti firm that owns half of luxury British carmaker Aston Martin, said on Saturday it has filed for legal protection under Kuwait's financial stability law."Investment Dar announces today that it has started a process of legal protection under the terms of Kuwait's Financial Stability Law," a company statement said. The company, which has debts of over three billion dollars, said the move aims at pushing through a debt restructuring plan that is backed by more than 80 percent of creditors but is opposed by a minority. If the request is accepted by authorities, it will halt all legal actions against Kuwait's top Islamic investment firm. Posted by: Fred 2010-03-14 |
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