Mobile  |  About us  |  Photos  |  Videos  |  Subscriptions  |  RSS Feeds  |  Today's Paper  |  Classifieds  |  Contact Us
The Daily Star
THURSDAY, 17 APR 2014
03:38 PM Beirut time
Weather    
Beirut
22 °C
Blom Index
BLOM
1,214.01down
Middle East
Follow this story Print RSS Feed ePaper share this
Abu Dhabi bank files $107 mln lawsuit against Zabeel
A+ A-

DUBAI: Abu Dhabi Commercial bank has launched legal action against Zabeel Investments, which is owned by the crown prince of Dubai, to reclaim $107.13 million from the troubled firm, according to court documents seen by Reuters. The bank, Abu Dhabi’s third-largest by market capitalization, filed the action on Sept. 19 in the Dubai International Financial Centre Courts, claiming breach of contract due to Zabeel’s failure to meet repayment obligations, the document said. Zabeel, which has hospitality, property and private equity assets, owes approximately $1.6 billion to mostly local banks.

 
A version of this article appeared in the print edition of The Daily Star on September 28, 2012, on page 5.
Home Middle East
 
     
 
briefs / Lebanon / Economics
Advertisement
Comments  

Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

comments powered by Disqus
Advertisement


Baabda 2014
Advertisement
Follow us on Facebook Follow us on Twitter Follow us on Linked In Follow us on Google+ Subscribe to our Live Feed
Multimedia
Images  
Pictures of the day
A selection of images from around the world- Thursday April 17, 2014
View all view all
Advertisement
Rami G. Khouri
Rami G. Khouri
Silencing Ayaan Hirsi Ali’s hate talk
Michael Young
Michael Young
Why confuse gibberish with knowledge?
David Ignatius
David Ignatius
Putin will keep rolling, until Obama says no
View all view all
Advertisement
cartoon
 
Click to View Articles
 
 
News
Business
Opinion
Sports
Culture
Technology
Entertainment
Privacy Policy | Anti-Spamming Policy | Disclaimer | Copyright Notice
© 2014 The Daily Star - All Rights Reserved - Designed and Developed By IDS