Dubai - Mubasher: Dana Gas said it will appeal the recent ruling in the $700 million-sukuk case.
The ruling was not a surprise to the company, according to a statement it issued on Saturday.
Dana gas said that it will appeal the ruling as it came from a trial in which it did not participate.
On Friday, London High Court ruled in favour of the sukuk holders in the case.
The company believes that it does not have repay its sukuk, which matured last month, because changes in the interpretation of Islamic finance over the past few years mean the instruments are no longer sharia-compliant and have become unlawful in the UAE.
