Investment Dar Restructure Plan ‘Prone to Collapse,’ Qabas Says
A restructuring plan by Investment Dar Co., the Kuwait-based owner of half of Aston Martin Lagonda Ltd., could collapse because of a court case challenging a law by which the company is reorganizing debt, Al-Qabas reported, without saying where it got the information.
Investment Dar last year altered the terms on about $5 billion of loans after defaulting in 2009. The restructuring is being implemented under Kuwait’s Financial Stability Law, which was enacted by the government in April 2009 to bolster financial institutions hurt by the credit crisis.
A spokesman for Investment Dar couldn’t immediately be reached for comment when contacted by Bloomberg News today.
To contact the reporter on this story: Fiona MacDonald in Kuwait at email@example.com
To contact the editor responsible for this story: Shaji Mathew at firstname.lastname@example.org