Date

:

02-11-2021

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With reference to the above subject, find attached disclosure form of lawsuits & court judgment in accordance with Book Ten (Disclosure and Transparency) of the executive bylaws of Law No. (7) of 2010 regarding the establishment of the capital markets authority and regulating securities activities and their amendments.

 

Date

01/11/2021

 

Case No.

4921/2021

 

Case Subject

Expert assignment claim

 

Judgment Date

31/10/2021

 

The Court that Issue the Judgment

Regional Court – Commercial Civilian  General Government (first degree)

 

Parties of the Case

- Alimtiaz Investment Group Company (Defendant)

- Aayan Al Khalijiah Company (Plaintiff)

 

 

The Judgment is in Favor of

Aayan Al Khalijiah Company

 

The Concluding Judgement of the Court of First Instance

The court ruled to oblige the defendant to pay the plaintiff an amount of KWD 26,948,997 (Twenty-six million nine hundred and forty-eight thousand and nine hundred and ninety-seven Kuwaiti dinars) and obligated the defendant to pay the expenses and an amount of one thousand Kuwaiti dinars in exchange for the actual legal fees.

 

The  Potential Effect of the Judgement on the Company

The effect of the judgment cannot be determined at the present time, as the issued judgment is preliminary and not enforceable, and the Company will appeal it. It is likely to be revoked for violating final civil and penal rulings.