Dana Gas PJSC v Dana Gas Sukuk Ltd and others

Contract – Judgment. The Commercial Court dismissed Dana Gas PJSC's application to set aside an earlier judgment, in which the court had ruled that a purchase undertaking, requiring Dana Gas to pay a sum of money referred to as the 'exercise price', was valid and enforceable. The court held that, for reasons which were, in substance, the same as those given in the earlier judgment, the interpretation of the purchase undertaking for which Dana Gas had argued was untenable, and that its third attempt to formulate an objection to enforcement of the purchase undertaking based on public policy was no more successful than the previous two attempts.

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