Al-Khodari says Dammam court approves final list of creditors’ claims

Abdullah A. M. Al-Khodari Sons Co. announced on May 11 that it received an email from the financial restructuring secretary, stating that Dammam Commercial Court has approved the final list of creditors’ claims.

The company said in a statement to Tadawul that the proposal will be submitted within 30 days of issuing the final decision.

Al-Khodari said it is too early to assess the financial impact of the restructuring process, and developments will be disclosed in due course.

In January, the company announced that the Dammam Commercial Court had approved creditors’ claims. The court had issued a ruling to initiate Al-Khodari’s financial restructuring under the bankruptcy law in July 2019, Argaam reported.

Three months later, the court-appointed financial restructuring secretary, Saleh Abdullah Al-Naeem, submitted a list of all creditors’ claims to the court.