IslamicFinance.de

A judge at a United Arab Emirates court has postponed the ruling in the Dana Gas sukuk case. Dana is refusing to make payments on the sukuk, which will mature this month. It argues that changes in Islamic finance over recent years have made the bonds unlawful in the UAE. The postponement means the next major development in the dispute may occur in a London High Court, where fund manager BlackRock and Deutsche Bank are representing the sukuk holders. In late September, High Court judge George Leggatt said he would adjourn the London trial until October 12.