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22 September 2021 The on-line newspaper devoted to the world of transports 17:43 GMT+2



March 15, 2012

Hedge fund wins $45.5m claim against Dubai Drydocks World
London Court'S ruling likely to slow restructuring efforts

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 ......
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