GIH loses court case on NBQ stake
United Arab Emirates: National Bank of Umm Al Quwain in the UAE has said that Kuwait's Global Investment House (GIH) has lost a court case to nullify its deal to buy a $642.5m stake in the bank, after defaulting on payment, Emirates Business has reported. GIH, which defaulted on most of its debt earlier this year, had last year signed a deal to buy a 20% stake in NBQ through convertible bonds. [AMEInfo.com]
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