When Ford sold Aston Martin in March of 2007, times were better for the consortium that bought David Brown's legacy. Along with ex-racer Dave Richards, banker John Singers and Adeem Investment, Investment Dar bought the Bond-ride firm for $925m (£480m). Fast forward to late 2008 and Investment Dar was itself trying to borrow $1B (£630m) to refinance debt, and iteven defaulted on a $100m Islamic bond in April. So, the Dar finds itself in a position of having to keep its creditors at bay while it seeks to right the ship. The agreement they've reached now is known as a standstill agreement. That means creditors won't make any new individual claims for a while. The arrangement will continue until the end of the year and hopefully Aston Martin will survive the financial storm.
[Source: The Guardian]