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KUWAIT CITY – A Kuwaiti court has granted troubled firm Investment Dar, which owns half of luxury British carmaker Aston Martin, legal protection from creditors, the company said on Sunday.

The Kuwaiti firm, which has more than three billion dollars of debt, applied to come under the emirates financial protection law, which was enacted about a year ago to help companies face the global financial crisis.

The leading Islamic investment firm is the first company to resort to protection under the law.

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KUWAIT CITY – Investment Dar, the troubled Kuwaiti firm that owns half of luxury British carmaker Aston Martin, said Saturday it has filed for legal protection under Kuwaits financial stability law.

“Investment Dar announces today that it has started a process of legal protection under the terms of Kuwaits Financial Stability Law,” a company statement said. The company, which has debts of over $3 billion, said the move aims at pushing through a debt restructuring plan that is backed by more than 80 percent of creditors but is opposed by a minority.

If the request is accepted by authorities, it will halt all legal actions against Kuwaits top Islamic investment firm.

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