Saudi Court postpones creditor’s claim against Al-Khodari

24/06/2019 Argaam

 

Dammam commercial court postponed today the case filed by one of Abdullah A. M. Al-Khodari Sons Co.’s creditors until July 1.

 

It is currently difficult to estimate the financial impact of initiating financial restructuring, Al-Khodari said in a bourse statement on Monday.

 

Late in May, the Saudi contractor was notified that one of its creditors has filed for initiating financial restructuring under Saudi Arabia’s new bankruptcy law, Argaam reported.

 

Related: Al-Khodari’s creditor filed for financial restricting under bankruptcy law

 

The financial restructuring procedure aims to facilitate an agreement with creditors under the supervision of a financial restructuring secretary, the statement added.

 

On June 12, Dammam court postponed the case to June 24.

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