Commercial Court lacks jurisdiction in case filed against MIS

Logo of Al Moammar Information Systems Co.

Al Moammar Information Systems Co. (MIS) announced that the Commercial Court issued a ruling, on March 13, to dismiss the lawsuit filed by Ettesaq Ltd Co. against the company.

The court also ruled that it has no qualitative jurisdiction to hear the case, the company said in a statement to Tadawul.

MIS pointed out that it will take all necessary legal measures to preserve its and shareholders' rights, including a request for compensation for material and moral damages incurred by the company.

The firm will announce any material developments in due course, the statement added.

In November 2021, MIS announced that a commercial case was filed against it by Ettesaq before Riyadh Commercial Court, according to data available with Argaam.

The plaintiff claimed compensation worth SAR 65.5 million, including a 15% value-added tax, as well as attorney fees of SAR 300,000. The case was filed for the technical consulting services to the final beneficiary, as claimed by the plaintiff.

On Jan. 12, 2023, MIS received a favorable preliminary court ruling to dismiss the commercial lawsuit filed against the company.