Dubai – Mubasher: GFH Financial Group is working on settling claims of an estimated value of $70 million, CEO Hisham Al Rayes told Mubasher.
The group is expected to settle claims in the coming 18 months, Al Rayes added.
GFH has received a settlement of $2.5 million in cash in a legal case which was filed by the company against Prescott Energy and others in 2013 regarding its investment in Prescott Oil Fund.
The group transferred 80% of its assets as part of settling lawsuits, the CEO had previously told Mubasher.
