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Court grants order in favor of $1B Dubai-based company Abraaj

The middle east’s largest private equity firm has successfully petitioned a Cayman Islands court to appoint PWC as its provisional liquidators, according to offshore law firm Carey Olsen. 

Abraaj’s US $1 billion health care fund has had a fallout with several investors, including the Bill and Melinda Gates Foundation.

Abraaj holdings filed an application in Grand Court chambers Monday (18 June).

The Dubai-based company is trying to stem the fallout with major investors and creditors who seek to wind-up the company after a row over how it uses its money.

About the author

Kevin Morales

Kevin Morales

Cayman 27 News Director Kevin Morales is an award-winning journalist with more than 12 years of experience. Kevin is a Milwaukee, Wis., native. He graduated with a bachelor's degree in journalism in 2005 from the University of Minnesota. He's a proud father and a loyal fan of the Green Bay Packers, Milwaukee Brewers, Milwaukee Bucks and U of M Golden Gophers.

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