Riyadh - Mubasher: Mohammad Al Mojil Group announced that a court hearing was set on 13 March for the report of the specialized committee regarding the company’s case with M.M. Mideast (MML).

The proceedings of the hearing will not have any financial impact on Al Mojil results, according to a bourse filing on Monday.

In May, Al Mojil Group received a ruling from the Court of Cassation in Dubai which overturned a ruling by the Court of Appeal that was issued in the company’s favour on 15 July 2015.

The Appeals Court bound MML to pay Al Mojil a sum of $63 million (SAR 236 million).

The Saudi-based company entered into an agreement in 2008 with Dubai’s MML to provide equipment for Al Mojil’s Manifa oil refinery. The UAE company failed to meet the terms of the contract, which resulted in Al Mojil incurring losses.