Author: SHERIF ELSAYED EISSA ATTIA

With reference to the lawsuits filed by Kuwait Finance House against the company, requesting the repayment of total outstanding debt owed to it amounting to KD 43.3 million, on 13 December 2012 the First Degree Court issues a ruling in...

The company receives a lawsuit notification letter, filed by its major creditor, Kuwait Finance House, against the company requiring the repayment of the total outstanding debt owed to it amounting to KD 43.3 million.  The company’s management is currently working...

The company successfully settles its debt owed to Burgan Bank of amounting to KD 10.2 million in exchange for the sale of 984.5 million shares of its investment in Gatehouse Bank plc (equivalent to 6.2% of the bank’s share capital)...

The company successfully settles its debt owed to Gulf Bank against amounting to KD 1.7 million in exchange for cash payment and the sale of 166.6 million shares of its investment in Gatehouse Bank plc (equivalent to 1.1% of the...

The company successfully settles its debt owed to Commercial Bank of Kuwait amounting to KD 11.9 million, in exchange for cash payment and the sale of 1.15 billion shares of its investment in Gatehouse Bank plc (equivalent to 7.3% of...

The company succeeds in raising the paid-up share capital of its substantially owned subsidiary, Gatehouse Bank plc, a Shariah compliant deposit taking investment bank based in London, from GHB 50 million to GBP 150 million. The company sells part of...

In accordance with Law No. 7 of 2010 with regards to the establishment of the Capital Markets Authority (“CMA”) and the regulation of investment securities activities, the company files an application with the CMA to obtain a license and register...

The company successfully settles part of its debt owed to Kuwait Finance House amounting to KD 35.2 million in exchange for the sale of some of its financial investments. This sale results in the recognition of a net loss of...

The company successfully settles its debt owed to Boubyan Bank amounting to KD 5.5 million in exchange for cash payment and the sale of some of its investments to Boubyan Bank. This sale results in the recognition of a net...

The company successfully settles part of its debt owed to Kuwait Finance House amounting to KD 18.1 million in exchange for the sale of some of its financial investments. No gain results from this sale.