GFH receives $2.5 million in legal settlement from Prescott Energy

01/06/2017 13:08 AST

Bahrain Chamber for Dispute Resolution ruled in favour of Gulf Finance House (GFH) in a proceeding the financial institution brought against Prescott Energy and several others in 2013.

In an announcement on the Dubai Financial Market, GFH stated that it has obtained $2.5 million in cash against the total awarded amounts in the legal case regarding its investment in Prescott Oil Fund.

The recovered amount is expected to have a positive impact on GFH’s financial results for the second quarter of 2017.


CPI Financial

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