Kuwait – Mubasher: International Financial Advisors (IFA), listed on Boursa Kuwait and the Dubai Financial Market (DFM), on Sunday announced that it has filed a lawsuit to recover an amount of money it had paid in favour of one of the banks early 2012.

Accordingly, Ajman Court has decided to return the subject to adjudication and the hearing was set on 11 January 2018, IFA said in a bourse filing.

The company has also filed another suit in Oman regarding the same matter and the first-instance judgment is due 26 December 2017, the company highlighted.

In April 2017, IFA posted regarding the judgment issued on 25 January 2006 by Ajman Court in favor of the aforementioned bank against the company and another company jointly for $27 million, which IFA has already executed since 5 March 2012 through the Department of Execution at the Ministry of Justice.