QACO case against Al Bandariyah adjourned to October

Qassim Investment Holding Co.’s (formerly Qassim Agricultural Co.) case against Al Bandariyah Group has been adjourned to Oct. 10, 2017, the company said in a statement to the Saudi bourse (Tadawul).

In January, the company filed a new lawsuit against Al Bandariyah Group before the Riyadh-based Board of Grievances. Its hearing was then adjourned to July 26.

 The lawsuit was filed against Abdullah Mansour Hamad Al Saghiyr Co. and Al Bandariyah’s commercial units – operating in food, dairy and agricultural production, as well as in the marketing of agricultural products – which represented the group as parties to the sale and sale termination contracts.

In 2009, QACO terminated its agreement with Al Bandariyah and requested the contract's value back after it claimed that it had "obtained financial information that affects its investments" in the group.