وهي فسخ في حق المتعاقدين بيع جديد في حق غيرهما في قول أبي حنيفة
Translation: According to Abu Hanifah, iqalah is a rescission as between the contracting parties but treated as a new sale with respect to others.
Fi haqq al-muta'aqidayn means the original parties are undoing their own contract. Fi haqq ghayrihima points to outsiders whose independent legal rights may be affected.
A single transaction can have different legal characterizations for different rights. Do not erase Quduri's explicit distinction by calling iqalah simply “a new sale” in every respect.