Investment Dar is a Kuwaiti investment firm whose assets include a stake in luxury car maker Aston Martin.
Investment Dar (profile) said a local court had ruled to lift the protection it had against legal action by creditors.
The total debts in question are believed to be in excess of USD 1.56 billion.
Investment Dar was one of several local financial firms which struggled to refinance debt in the aftermath of the global economic crisis in 2008.