Arabtec takes necessary actions to file insolvency application

Arabtec Holding board of directors took the necessary actions to proceed with the submission of insolvency application to the competent courts without delay.

The board held a meeting on Nov. 30, 2020, to discuss the shareholders’ insolvency resolution passed in the general assembly meeting held on Sept. 30, Arabtec said in a statement to Dubai Financial Market on Sunday, Dec. 6.

Arabtec shareholders confirmed at the general assembly meeting held on Nov. 30 that the company will, at the earliest opportunity, file an application for its insolvent liquidation at the competent courts, Argaam reported.