Saudi Indian Company for Cooperative Insurance (“Wafa Insurance” or the “Company”) announces the appeal that occurred on the court order issued by the commercial court in Riyadh on the termination of the Financial Reorganization Procedure and the opening of the liquidation procedure
| Element List | Explanation |
|---|---|
| Announcement Detail | The Saudi Indian Company for Cooperative Insurance (“Wafa Insurance” or the “Company”) would like to announce that on 24/05/1443 H (28/12/2021G) some objections were submitted (including an objection from the Company’s chairman of the board of directors, on behalf of the board of directors) to appeal the commercial court ruling dated 11/05/1443H on case 4979 for the year 1440H regarding the termination of the Financial Reorganization Procedure and the opening the liquidation procedure for Wafa Insurance and the appointment of Waleed bin Mohamad Sobahi as trustee, according to the duties and powers of the trustee as stipulated under the KSA Bankruptcy Law and its Implementing Regulations.
Future updates on that matter will be communicated in due course. |
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