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English court injuncts Dana Gas in Sukuk Case

English court injuncts Dana Gas in Sukuk Case
The order was requested by Putnam SPV 4
Dana Gas
DANA
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Abu Dhabi - Mubasher: Dana Gas has received an interim injunction and interim anti-suit injunction from the English High Court of Justice concerning its ongoing Sukuk Case.

The order was requested by Putnam SPV 4, which is a US-based special purpose vehicle managed by Contrarian Capital Management, according to a bourse statement released on Sunday.

“This surprise order was made and obtained by contrarian on an ex parte basis – meaning that Dana Gas was not represented and without its advance knowledge,” Dana revealed.

The English court has also ordered Dana to notify all its shareholders of these recent updates and post thereof on the Abu Dhabi Securities Exchange (ADX).

“The company plans to challenge the order vigorously, and will claim any damage from contrarian and any party assisting it – directly or indirectly – that Dana Gas and its shareholders may suffer consequent to it,” the ADX-listed company said.