International Investment Group (IIG) of Kuwait said it is unable to pay $152.5 million to sukukholders who demanded immediate repayment after the Kuwaiti finance company defaulted on its $200 million Islamic bond.

In April, IIG became the second Kuwait-based firm in a year to miss a sukuk payment.

Investment Dar Co., owner of half of Aston Martin Lagonda Ltd., missed a payment on a $100 million Islamic bond in May 2009.

Global Investment House KSCC, Kuwait’s biggest investment bank, defaulted on loan payments in 2008.


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