Kuwait-Mubasher: Ekttitab Holding said that the court of appeal in Abu Dhabi has issued it final judgment of AED 88 million (KWD 7.15 million or $24 million) in favor of an associate and two other companies.

Ekttitab, which is listed on both KSE and DFM, included a restitution of AED 70 million, in addition to 5% per annum interest on the awarded amounts starting from 6/9/2010.

The company noted that this rule will reflect positively on the company’s position once the amount of money is collected.

Meanwhile, Al Madina for Finance and Investment said on Wednesday that the court of appeal in Abu Dhabi has issued a final judgment in favor of the company as well as a subsidiary and an associate against N&H Company and Hassan Salah Tatanaki, according to a bourse statement.

Al Madina, which is listed on both KSE and DFM, said that the overall awarded amounts reached AED 88 million which included a restitution of AED 70 million, in addition to 5% per annum interest on the awarded amounts starting from 6/9/2010.

The company added that this court rule will have a positive impact on Al Madina’s financial results once the amounts are recovered, added the statement.

Ekttitab stock settled at 27.5 fils during the trading session at KSE on Thursday at 12:05 pm Kuwait local time.