‎Riyadh enchantment court docket affirms termination of Wafa Insurance monetary restructuring, opening of liquidation job


Tag of Wafa Insurance

The Saudi Indian Company for Cooperative Insurance (Wafa Insurance) launched that the fifth enchantment circuit of Riyadh Commercial Courtroom affirmed the scream issued by the ninth industrial circuit of the court docket on the termination of the corporate’s monetary restructuring job and opening liquidation, in accordance to a bourse submitting. 

The ruling also included the appointment of Waleed bin Mohamad Sobahi as trustee, in accordance to the duties and powers of the trustee as stipulated under the Saudi Financial demolish Law and its executive regulations. 

The insurer launched closing December the issuance of Riyadh Commercial Courtroom’s decision on terminating its monetary reorganization job and opening the liquidation job, and then the corporate appealed the choice, in accordance to info available with Argaam

The corporate’s stock has been suspended since November 12, 2018, due to non-compliance with posting monetary outcomes all the most realistic method during the specified intervals.