Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- Carlyle acted without a licence: NIG  Join our daily free Newsletter

MENAFN - Khaleej Times - 27/08/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Khaleej Times) A Kuwaiti company suing the Carlyle Group over a 25 million investment that went bad is now accusing the private equity firm of marketing the deal without a licence as it seeks to have its case heard in Kuwaiti courts.

The latest claim by Kuwait's National Industries Group, or NIG, adds a new twist to its more than 2-1/2-year legal challenge to Carlyle, and could complicate the American company's relationships with other wealthy Mideast investors.

NIG's lawsuit focuses on a Carlyle investment fund that was one of the earliest casualties of the financial crisis when it collapsed in 2008.

The fund has been the subject of multiple lawsuits against Washington-based Carlyle.

In a motion filed this month with a Delaware court hearing the case, NIG argues that the dispute should be heard in Kuwait because Carlyle lacked the legal basis to pitch the deal there in the first place.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help