Equipment House says subsidiary’s favorable NUPCO case ruling overturned

Logo of Scientific & Medical Equipment House Co. (Equipment House) 

Scientific & Medical Equipment House Co. (Equipment House) said the final enforceable appeal judgment issued in favor of its wholly-owned subsidiary, Protecta Visions Co., in the lawsuit against National Unified Procurement Co. (NUPCO) has been overturned.

Based on the initial ruling issued by the 13th Circuit of the Riyadh Commercial Court, the case has been referred to another appeal court to review NUPCO's objection and re-evaluate the case details, the company explained in a statement on Tadawul.

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The next hearing is scheduled for Dec. 4.

Equipment House is closely monitoring developments in this case and will announce any significant updates in due course, the statement added.

There are no changes to the costs associated with the event, the company said, adding there are no costs linked to the process during the current period.

According to data available with Argaam, Equipment House announced in October 2023 receiving he final and enforceable judgment from the Fourth Appellate Court of the Riyadh Commercial Court in favor of its subsidiary.

The court ordered NUPCO to pay SAR 60.6 million to Protecta Visions, in addition to SAR 135,000 for expert fees, and SAR 500,000 for legal fees.

In August 2023, the company announced a preliminary court ruling in favor of Protecta Visions in its lawsuit against NUPCO.