Date

:

09-02-2022

View PDF File

Date

09/02/2022

 

Name of the listed Company

ALIMTIAZ INVESTMENT GROUP COMPANY

 

 

Case No.

3991-3776/2021  - Cassation Civil 3

 

Case Subject

A lawsuit claiming an amount

 

Judgment Date

09/02/2022

 

The Court that Issue the Judgment

Cassation Civil 3

 

Parties of the Case

- Alimtiaz Investment Group Company (plaintiff, appellant, and appellee)

- Ali Ahmad Al-Zubaid,Ghanim Saad Al-Kawari, Abdulrahman Mahmoud Zaman (respondents, appellants, appellees)

 

 

The Judgment is in Favor of

ALIMTIAZ INVESTMENT GROUP COMPANY

 

The Concluding Judgement of the Court of First Instance

The court ruled to oblige the defendants to pay the plaintiff an amount of KWD 11,925,059.464 (eleven million nine hundred and twenty-five thousand and fifty-nine Kuwaiti dinars and 464 fils) and obligated the defendants to pay the expenses and an amount of one thousand Kuwaiti dinars in exchange for the actual legal fees.

 

The Concluding Judgement of the Court of Appeal

The court ruled:

First: to accept the original appeals in form, and on the subject of appeals Nos. 1381, 1543, 1545, 1648, 4123 / 2021 Civil/8 rejecting them and obligated each appellant to pay the costs of his appeal and 100 dinars for actual attorney fees.

 

Second: By overruling the appealed judgment and ordered again to obligate the appellees jointly to pay to the appellant an amount of 11,925,059,464 KD (eleven million nine hundred and twenty-five thousand and fifty-nine Kuwaiti dinars and 464 fils) and obligated them to pay the appellant an amount of one thousand Kuwaiti dinars in return for actual attorney fees.

 

Third: Not accepting the two subsidiary appeals with obligating the subsidiary appellant to pay their expenses and an amount of 20 dinars in return for attorney fees for each appeal.

 

 

The Concluding Judgement of the Court of Cassation

Preliminary and pre-adjudication decision: The Court of Cassation today ordered the continuation of the execution and rejected the request to suspend the sentence of former board members (appellants of Cassation), after proving the eligibility of Al Imtiaz Investment group company (challenged against it) for KD 11,925,059,464 and expenses in accordance with the ruling of the Court of Appeal.

 

The  Potential Effect of the Judgement on the Company

It is not possible to determine the financial impact at the present time except after the execution of the judgment.