Al Jouf Cement: Court approves SAR 50.7M debt of Eastern Industrial

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Al Jouf Cement Co. received notice on Dec. 5 from the bankruptcy trustee, stating that the First Commercial Circuit of Dammam Commercial Court issued a ruling approving the claims list.
 
According to a statement on Tadawul, the court approved the trustee’s recommendation to substantiate a debt claim of SAR 50.7 million owed to Al-Jouf Cement by Eastern Industrial.
 
 

Al Jouf Cement said the debt amount was provided as a guarantee for loans taken by Eastern Industrial from Bank AlJazira and the Saudi Industrial Development Fund (SIDF).

 

In July, Al Jouf Cement received notice from the bankruptcy trustee of Eastern Industrial, indicating the approval to substantiate a debt claim of SAR 50.66 million owed to Al-Jouf Cement by Eastern Industrial, according to data available on Argaam.

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