Independent journal on economy and transport policy
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Hedge fund wins $45.5m claim against Dubai Drydocks World
(Gulf News)
March 15, 2012
By Babu Das Augustine, Deputy Business Editor
Gulf News
Dubai Monarch Alternative Capital, a New York based hedge fund, said Wednesday that it won a $45.5 million (Dh167.09 million) legal claim against Dubai Drydocks World for defaulting on a financial obligation.
Last October, Monarch, an investment firm with $4.5 billion of assets, sued Dubai Drydocks for $45.5 million in London's High Court. The hedge fund said in an emailed statement that the court ordered the Dubai firm to pay the entire sum claimed plus Monarch's legal costs ...... Read more on Gulf News
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