Holders of USD700mn of Islamic bonds issued by UAE-based Dana Gas expect to recover all the money owed to them under the bonds’ original documentation, a committee representing the holders said on Thursday. The committee issued its statement after a London High Court judge again ruled in favour of holders on Feb. 1, rejecting an attempt by Dana to overturn his decision last November that the purchase undertaking behind the sukuk was valid and enforceable. Last June, Dana refused to redeem its sukuk on the grounds that they were no longer Sharia-compliant and therefore unlawful in the UAE. That has led to a protracted legal battle in British and UAE courts. The sukuk holders said on Thursday that in addition to his decision to uphold the purchase undertaking, the London High Court judge had issued an injunction requiring Dana to withdraw its legal proceedings and injunctions in the UAE.