MEPCO gets favorable final ruling against MEWA

30/04/2024 Argaam
Middle East Paper Co. (MEPCO)headquarters

Middle East Paper Co. (MEPCO) headquarters

Middle East Paper Co. (MEPCO) announced the issuance of a final ruling in its favor, upholding the preliminary judgment in a lawsuit against the Ministry of Environment, Water and Agriculture (MEWA), Makkah Region Branch.

 

According to a statement to Tadawul, the decision of the minutes of the Estimation Committee dated March 2, 2023, estimating the compensation at SAR 2.6 million, was annulled.

 

MEPCO announced in September 2023 the filing of a lawsuit against MEWA-Makkah Region Branch in Jeddah Administrative Court to reassess the fair compensation in accordance with the fair value as indicated in the real estate appraiser's report for the period between the expropriation of the company's property and the disbursement of compensation by the ministry, Argaam earlier reported.

 

A first-instance judgment was recently issued by Jeddah Administrative Court to annul the decision of the minutes of the Estimation Committee dated March 2, 2023.

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