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New twist in Abraaj group case will affect Cayman Islands liquidation
From Solomon Harris Two indictments filed in the Southern District of New York Court have resulted in the arrests of the both the founder of Abraaj Investment Management (‘AJM’), Arif Naqvi (‘Naqvi’), and the former Managing Partner of the Abraaj…
Cayman Islands: What now for Abraaj Group?
By Sarah Townsend From The National The private equity firm has yet to sell parts of its business, as its provisional liquidation continues One week after the Abraaj Group founder Arif Naqvi reached an out-of-court settlement with a creditor in…
Dubai regulator probes Abraaj Capital as investigation continues
By: Christopher Copper-Ind From International Investment Dubai regulator probes Abraaj Capital as investigation continues Dubai’s financial services regulator has moved to bar Abraaj Capital from taking on new business or moving money to Abraaj Investment Management (AIML), its related entity,…
Abraaj posts $188 million loss after using investor funds
From Bloomberg News (Bloomberg) — Abraaj Holdings had an “unusual” business model reliant on short-term borrowing, and key financial statements are missing or nonexistent, according to one of the firms tasked with salvaging the Dubai-based private-equity firm’s assets. In a…
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Abraaj restructuring request approved by Cayman Islands court
By Sarah Townsend From The National Abraaj Group said on Tuesday a Cayman Islands court approved a request by the embattled buyout firm for a provisional liquidation of the business, enabling a court-supervised restructuring and protection of stakeholders’ rights. The…
