Kuwait's Madina wins appeal vs Global Investment

Kuwaiti company wins an arbitration appeal against GIH over a disputed share repurchase deal.
Kuwait's Madina wins appeal vs Global Investment
KUWAIT RULING: In April, the arbitration centre at Kuwaits chamber of commerce and industry ruled in favour of Global over a $10m debt. (Getty Images)
By Reuters
Wed 15 Sep 2010 04:21 PM

Kuwait's Al Madina for Finance and Investment Co said it had won an arbitration appeal against Global Investment House over a disputed share repurchase agreement.

In April, the arbitration centre at Kuwait's chamber of commerce and industry ruled in favour of Global over a $10m debt and ordered Al Madina to pay $300,000 in compensation.

Al Madina's shares were down 1.2 percent, while Global's shares were down 1.6 percent at 0930 GMT on the Kuwait bourse Wednesday. (Reuters)

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