From Businessweek.com: International Investments Group KSCC, the Kuwaiti finance company which defaulted on a $200 million Islamic bond yesterday, said a “dissolution event” will occur should a default continue for at least three working days.

Further notices will be issued in accordance with the bond agreement, the company said in a notice posted on the Nasdaq Dubai Web site today. It said April 12 was the first business day of default…………………………………Full Article: Source