Investment Dar Debt Arouses Fears For Aston Martin

Two years after being sold by Ford Motor, luxury carmaker Aston Martin is again considering its future after Kuwaiti sovereign fund Investment Dar revealed details of a 'Standstill agreement' on its debts. Investment Dar acquired a 51% stake in Aston Martin in March 2007, financed by a US$393mn loan, agreed with a number of international banks according to sharia finance principals. However, the standstill agreement will freeze claims from banks and investors until the end of the year, while Investment Dar has asked creditors to provide details of 'the size and nature of their claims', according to a company statement.

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