Abu Dhabi – Mubasher: London High Court, headed by Mr Justice Leggatt, rejected all Dana Gas’ requests and arguments in the well-known sukuk case, the Abu Dhabi Securities Exchange (ADX) listed company stated on Monday.

Mr Leggatt also declined an appeal against his ruling on 17 November 2017, asserting the validity and the enforceability of the sukuk agreement under the English law.

The judge issued an order refraining the UAE-based energy producer from engaging in Sharjah Court’s proceedings and ordered a cancellation to the mentioned trial in the UAE’s court, Dana reported.

The British judge did not take into account Dana Gas’ valid arguments regarding the foreign court’s lack of jurisdiction and that the UAE courts - as Sharia-based judicial entities - are more fit for the case, the company commented.

Furthermore, the sukuk agreement provided for the settlement of any arisen dispute between its parties under the UAE’s law, the Emirati energy company concluded.