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United Insurance issues clarification on liquidation approval
Al-Muttahid Cooperative Insurance Company announced that the Commercial Court in Riyadh has accepted one of its debtors' requests to initiate liquidation proceedings. However, this does not mean a final ruling on liquidation has been issued yet. The case is still under review and involves judicial procedures and legal stages. Meanwhile, the company is preparing to defend itself and request financial restructuring to ensure business continuity and protect the rights of shareholders and creditors. The company remains operational and commits to disclosing any significant developments related to the case.
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