Mubasher: Al Madina for Finance and Investment announced that a court has ruled in its favour in a KWD 1.575 million ($5.2 million) case of a selling contract nullity, according to a bourse filing.

The court ruling has annulled the contract and obliged the second party to pay this sum to Al Madina, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM).

The financial impact of the ruling is yet to be determined, the firm noted.