Kuwait's central bank on Monday decided to appoint a temporary administrator to monitor business at Investment Dar, an Islamic company that owns half of British luxury car-maker Aston Martin. Central bank governor Sheikh Salem Abdulaziz al-Sabah said the monitor will also oversee talks with debtors and the restructuring of the company, which defaulted on some of its debts, the official KUNA news agency reported.
The company's shares have been suspended from trading on the Kuwait Stock Exchange since April 1 for failure to report its 2008 financial results, which must be first approved by the central bank.
The governor said that auditors have been unable to verify certain information in the company's financial statements, and that the central bank has received complaints from the firm's debtors and shareholders. This is the second time the emirate's central bank has resorted to such a measure since the onset of the global financial crisis.
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