Dana Gas Bondholders to Rely on U.K. Court Ruling: Hogan Lovells

• Dana Gas loses attempt to overturn English court rulings

• Out-of-court settlement seen likely, says Imran Mufti

Dana Gas PJSC’s bondholders will rely on English court rulings in their debt standoff with the company, even after a court in the United Arab Emirates issued a new injunction against one of the investors, according to Hogan Lovells U.S. LLP.

The Sharjah, U.A.E.-based energy company lost an attempt to overturn English court rulings that backed creditors’ demands for the repayment of $700 million of Islamic bonds, it said on Monday. A court in Sharjah issued an anti-suit injunction against BlackRock Inc., the ...