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Arif Naqvi’s lawyer to defend him against airline lawsuit
By Murtaza Ali Shah From THE NEWS PK LONDON: The lawyer of Abraaj founder and well-known Pakistani emerging markets magnate Arif Naqvi has vowed to strongly defend him against Air Arabia’s lawsuit against his client which has been issued while…
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Abraaj founder ordered to pay litigation costs in Cayman Islands court
By Pedro Goncalves From International Investment A Cayman judge has ordered the founder of troubled equity firm Abraaj to pay for the costs of a recent hearing in the jurisdiction regarding the company’s restructure attempts out of his own pocket. At…
Judgment in ‘bounced cheque’ case against Abraaj CEO postponed to Aug 28
Reuters, Sharjah, UAE From Alarabiya A United Arab Emirates court postponed judgment until Tuesday in a case against the founder of private equity firm Abraaj, Arif Naqvi, and another executive for issuing a cheque without sufficient funds, two lawyers close…
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…
Colony Capital’s Abraaj deal faces investor resistance: sources
By Hadeel Al Sayegh, Davide Barbuscia From Reuters DUBAI (Reuters) – U.S. investment manager Colony Capital’s deal to take control of four funds belonging to Dubai-based Abraaj is encountering investor resistance, four sources familiar with the matter said, piling further…
Abraaj founder Naqvi faces UAE court ruling over bounced cheque
From The National Sharjah judge is scheduled on Thursday to rule whether Mr Naqvi and colleague Muhammad Rafique Lakhani issued cheque without necessary funds A public prosecutor in the UAE has accepted a criminal complaint against Abraaj Group’s founder Arif…
Air Arabia shares fluctuate on exposure to Abraaj funds
By Archana Narayanan and Filipe Pacheco From Bloomberg Air Arabia PJSC swung between gains and losses after the airline disclosed exposure to funds managed by Abraaj Group Ltd., the Dubai-based private equity firm that’s battling creditors. The shares fell as…
