Investment Dar’s overlooked creditors

This article originally appeared in Gulf News on 12th July 2011

It’s usually small equity investors in Kuwait that suffer the unfair and predatory practices of larger investors, this time, however, small creditors face a similar fate.

In 2009, The Investment Dar (TID) missed a payment on a $100 million (Dh367 million) sukuk, defaulted and ceased to service its $3.7 billion debt pile.

The problem’s resolution requires complex financial and legal decisions that should ensure lenders to TID are protected and repaid.

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