MANAMA: GFH Financial Group (GFH) said it has got approval from its board for settlement arrangements with a series of counterparties related to an undisclosed number of lawsuits.
The Bahrain-based Islamic investment bank said in a statement to Bahrain Bourse (BHB) that its board has resolved to approve the proposed settlement of awarded and pending lawsuits with assets of an estimated value ranging between $350-450 million, subject to counterparties’ fulfilment of their obligations and GFH’s collection of the assets .
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