Darb Saudi Arabia: Submission of 6 Execution Requests Against Former Board Members to the Execution Court in Riyadh
Logo of Darb Saudi Arabia Investment Company. Darb Saudi Arabia Investment Company (formerly Al Baha Investment and Development Company) announced that it received yesterday, Monday, a statement from the company's lawyer, Ahmad bin Othman Al-Huqail and his Partners for Law and Legal Consultations, regarding the submission of 6 execution requests against the former board members for the term from February 10, 2010 to February 9, 2013, before the Execution Court in Riyadh. The company added in a statement on Tadawul that it will announce any other material developments. According to data available on Argaam, Darb Saudi Arabia announced yesterday, Monday, the decision of the Appeal Committee to uphold the decision of the Committee for the Resolution of Securities Disputes obligating former board members jointly to pay approximately 68.7 million riyals, and obligating them to pay 500,000 riyals in compensation for legal fees.
Darb Saudi Arabia: Submission of 6 Execution Requests Against Former Board Members to the Execution Court in Riyadh
Logo of Darb Saudi Arabia Investment Company
Darb Saudi Arabia Investment Company (formerly Al Baha Investment and Development Company) announced that it received yesterday, Monday, a statement from the company's lawyer, Ahmad bin Othman Al-Huqail and his Partners for Law and Legal Consultations, regarding the submission of 6 execution requests against the former board members for the term from February 10, 2010 to February 9, 2013, before the Execution Court in Riyadh.
The company added in a statement on Tadawul that it will announce any other material developments.
According to data available on Argaam, Darb Saudi Arabia announced yesterday, Monday, the decision of the Appeal Committee to uphold the decision of the Committee for the Resolution of Securities Disputes obligating former board members jointly to pay approximately 68.7 million riyals, and obligating them to pay 500,000 riyals in compensation for legal fees.
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Original source: Argaam
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