February 1, 2018 / 2:50 PM / in a year

London court again finds for creditors in Dana Gas sukuk dispute

FILE PHOTO - A view shows UAE's Dana Gas building in Cairo November 2, 2012. REUTERS/Mohamed Abd El Ghany

DUBAI (Reuters) - A London High Court judge again ruled in favour of creditors on Thursday in a dispute over whether United Arab Emirates energy company Dana Gas DANA.AD must repay $700 million (£491.4 million) of Islamic bonds, a source familiar with the court proceedings said.

Judge George Leggatt rejected an attempt by the company to overturn his decision last November that the purchase undertaking behind the sukuk was valid and enforceable.

There was no immediate comment from Dana.

Reporting by Davide Barbuscia; Writing by Andrew Torchia

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