Baladko sues rival group
Abu Dhabi National Building Materials "BldCo" is facing a legal lawsuit demanding compensation of 33 million dirhams from Imran Sultan Matar Al Harmali. In response, the company has filed a counterclaim seeking compensation of 20 million dirhams. The court hearing is scheduled for July 1, and the final financial impact on the company cannot currently be determined; however, it could have either a negative or positive effect depending on the outcome of the two lawsuits. The claims represent approximately 2.2% of the company's capital, which amounts to 1.5 billion dirhams, and the impact is expected to be immaterial based on the size of the claims.
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