BinDawood Holding updates shareholders on lawsuit filed against subsidiary

13/01/2022 Argaam
BinDawood Holding building

BinDawood Holding building

BinDawood Holding Co. announced that the first hearing of Arab Dalla Co.’s appeal against the court’s preliminary verdict, dismissing legal claim against its subsidiary, Danube Company for Foodstuffs & Commodities, was convened on Jan. 12, according to a bourse filing.

 

The Commercial Court of Appeal in Jeddah asked Arab Dalla to serve the defendant with a copy of the appellant’s brief to respond.

 

The next hearing is scheduled for Jan. 24, 2022.

 

BinDawood Holding indicated that relevant updates will be duly revealed.

 

In December 2021, BinDawood Holding Co. said Arab Dalla Co. submitted an appeal against the Commercial Court’s preliminary verdict, which dismissed the legal claim against its subsidiary, Danube Company for Foodstuffs & Commodities, Argaam reported.

 

In February, the company announced that Arab Dalla filed a lawsuit against one of its subsidiaries, Danube, for patent infringement, seeking a compensation of SAR 124.13 million and legal fees of SAR 300,000.

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