Abraaj founder ordered to pay litigation costs in Cayman court

Pedro Gonçalves
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Abraaj founder ordered to pay litigation costs in Cayman court

A Cayman judge has ordered the founder of troubled equity firm Abraaj to pay for the costs of a recent hearing in the jurisdiction regarding the company's restructure attempts out of his own pocket. At the hearing, Abraaj's largest creditor, Kuwait's Public Institution for Social Security  argued that Dubai-based company  is insolvent and that there are no prospects for restructuring the company. Representatives for Abraaj's provisional liquidator, PricewaterhouseCoopers, responded that...

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