Court adjourns lawsuit against SARCO to March 14

31/01/2018 Argaam

A Saudi court has adjourned the lawsuit filed by Mohammed Qusai Asaad, a shareholder at Arabian Sulfonates Co. (ASCO), against Saudi Arabia Refineries Co. (SARCO) to March 14, 2018.

 

The auditor has presented a final report to the court, SARCO said in a statement to Tadawul on Wednesday.

 

Asaad is suing SARCO to dissolve ASCO, after the company’s accumulated losses exceeded half its capital.

 

Further developments will be announced as they occur, the statement said.

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