Pimp Bond’s Ride: Aston Martin’s Kuwaiti Muslim Deadbeat Owners, Adnan Al-Musallem & Mustafa Al-Saleh
But, now, Investment Dar and its Chairman, Adnan Al-Musallem, are under water, and can’t pay creditors. It’s the same scenario I recently told you about with Dubai and its government-run Dubai World. Like Dubai World, Investment Dar tried to “restructure,” with a plan that repays investors only mere pennies on the dollar.
But the creditors balked. So, now, Investment Dar–which also owns the Grosvenor Hotel Apartments in London–is employing protection under Kuwait’s “financial stability law,” a form of Islamic protection which is far more detrimental to creditors than any kind of bankruptcy law.
Read the rest via debbieschlussel.com