Kuwait – Mubasher: The appeals court has ruled that defendants Hossam Fawzy Abdel Mohsen Al-Kharafi and MAC Group for Project Management and another company are to pay KWD 8.3 million ($27.4 million) to Noor Financial Investment, according to a bourse filing by Noor.

The court of cassation previously ruled in the favour of Noor in the appeal filed by Hossam Fawzy Al-Kharafi and Fawzy Abdel Mohsen Al-Kharafi to halt payment of the above sum.

The Kuwaiti investment firm reported profits of KWD 918,800 in the fiscal year 2014 compared to KWD 9.05 million in 2013.