Thimar receives court ruling on accepting financial reorganization plan

14/08/2022 Argaam

A Thimar store

Thimar Development Holding Co. received the ruling of the Commercial Court in Riyadh on accepting the proposal to conduct a financial reorganization, the company said in a bourse statement today, Aug. 14.

 

On March 23, the company stated that the Ninth Circuit of Commercial Court in Riyadh accepted its financial reorganization proposal, according to data available with Argaam.

 

In April 2021, Riyadh Commercial Court decided to open the financial reorganization procedures for the company and appointed a trustee to carry out the financial regulation work. 

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