Saudi news

Postponing the financial reorganization lawsuit to the February 7 session

Today, Wednesday, the Saudi Cable Company announced that the court has postponed the financial reorganization session to Monday, Rajab 16, 1444 AH, corresponding to February 7, 2023 AD, to consider the nomination of the trustees.

The company stated in a statement on “Saudi Arabia’s Tadawul” that the Fourth Circuit reviewed the lawsuit and the accompanying documents, and verified that the debtor fulfilled what was stipulated in the bankruptcy law, its executive regulations, and the information and documents regulations.

The Saudi Cable Company had submitted, in January 2022, the application to successfully open the company’s financial reorganization procedure and set the date for the first session.

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