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Legal

DIFC Courts winds up Bank Sarasin Alpen (ME) after failure to pay damages

May 5, 2016

By News Team

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Dubai-based Bank Sarasin Alpen (ME) has been placed into liquidation by the DIFC Courts after it failed to pay US$35 million in damages to a group of Kuwait investors for mis-selling financial products. The liquidation of the private bank is the first non-voluntary winding up of a DIFC company to…

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