Saudi Arabia Refineries Co. (SARCO) has said that a lawsuit was filed against the company by a shareholder in the Arabian Sulfonates Company (ASCO) to dissolve the financially troubled sulfonates unit.

 

The shareholder is asking the court to liquidate ASCO since its losses exceeded 50 percent of its capital, SARCO added in a statement to Tadawul.

 

The court will consider the lawsuit on January 25, 2017.

 

SARCO currently owns 34 percent of ASCO. In November, SARCO filed a lawsuit against ASCO’s management team over major financial losses.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request