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Appeal Court Reverses Saudi Cables Restructuring
The Court of Appeal in Riyadh has ordered the suspension of the process to terminate the company's financial reorganization of Saudi Cables Company and rejected the request to end it. This decision restores the company to the umbrella of financial reorganization. The ruling came after Tathmeer Investment Company and Rawafid Al-Mustaqbal objected to the procedural course, while the company continued to pay off creditors' claims, having paid most of the outstanding amounts. There are also government debts being managed according to payment schedules. The company affirmed that it does not recognize the claims submitted by the two companies, pointing to violations in the contracts related to those claims.
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