Logo of BinDawood Holding Co.
BinDawood Holding Co. announced on June 13 that Jeddah's Commercial Court issued a verdict in favor of its subsidiary Danube Company for Foodstuffs & Commodities, rejecting Arab Dalla Co.'s appeal for SAR 124.12 million compensation plus legal fees in the amount of SAR 300,000.
In a statement to Tadawul, the company stated that the court ruling upheld a decision by the Second Commercial Circuit in Jeddah Commercial Court dated November 22, 2021, to reject the case brought by Arab Dalla.
The company also stated that it is taking steps to protect the company and shareholders’ interests, including, but not limited to, filing a claim against the plaintiff to seek compensation for the material and moral damages it has suffered, referring to its strong legal position from the beginning of the lawsuit.
BinDawood Holding assured that its legal administration will carry out all procedures in accordance with the laws and regulations in a timely and efficient manner.
According to data compiled by Argaam, the company announced in December 2021 that Arab Dalla submitted an appeal against the Commercial Court’s preliminary verdict, which dismissed the legal claim against its subsidiary.
In February 2021, BinDawood Holding announced that Arab Dalla filed a lawsuit against Danube, for patent infringement.
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