GACO case against Al Bandariyah postponed to Jan. 31

03/01/2018 Argaam

 

Al Gassim Investment Holding Company’s (formerly Qassim Agricultural Co.) case against Al Bandariyah Group has been adjourned to January 31, 2018, the company said in a statement to Tadawul on Wednesday.

 

In January last year, the company filed a lawsuit against Al Bandariyah Group before the Riyadh-based Board of Grievances.

 

The lawsuit was filed against Abdullah Mansour Hamad Al Saghiyr Co. and Al Bandariyah’s commercial units – operating in food, dairy and agricultural production, as well as in the marketing of agricultural products – which represented the group as parties to the sale and sale termination contracts.

 

GACO terminated its agreement with Al Bandariyah in 2009 and requested the contract's value back, after it claimed that it had "obtained financial information that affects its investments" in the group.

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