BinDawood Holding says court accepts Arab Dalla appeal against Danube, hearing on Feb. 13

Logo of BinDawood Holding

BinDawood Holding Co. announced on June 13 that Jeddah's Commercial Court issued a verdict in favor of its subsidiary Danube Company for Foodstuffs & Commodities, rejecting Arab Dalla Co.'s appeal for compensation in the amount of SAR 124.12 million plus legal fees in the amount of SAR 300,000.

In a statement to Tadawul, the company stated that the ruling court decision was an affirmation of a decision by the Second Commercial Circuit in Jeddah Commercial Court dated November 22, 2021 in case number 42821961 to reject the case brought by Arab Dalla.

The company also stated that it is taking steps to protect the company's and the interests of its shareholders, including, but not limited to, filing a countersuit against the plaintiff to seek compensation for the material and moral damages it has suffered as a result of the lawsuit, referring to its strong legal position from the beginning of the lawsuit.

BinDawood assured that its legal administration will carry out all procedures in accordance with the laws and regulations in a timely and efficient manner.

According to data compiled by Argaam, in January last year, BinDawood Holding announced the issuance of an appealed judicial decision by Jeddah Commercial Appeals Court, in favor of Danube.

The court ruled the case brought by Arab Dalla pertaining to its claim of compensation amounting to SAR 124.12 million plus legal fees of SAR 300,000 as inadmissible.

In February 2021, Arab Dalla filed a lawsuit against Danube seeking a compensation for patent infringement.