Riyadh Court orders land seller to pay SAR 202 mln to Aseer, terminates deal

03/02/2022 Argaam

Logo of Aseer Trading, Tourism and Manufacturing Co.

Aseer Trading, Tourism and Manufacturing Co. said a preliminary ruling was issued in its favor by Riyadh General Court

 

The company was notified by its lawyer, on Feb. 2, that the preliminary ruling was issued on terminating the sale contract pertaining to north Riyadh land between Aseer and the seller, Aseer said in a statement to Tadawul.

 

The seller was ordered by the court to repay a total of SAR 202 million to Aseer.

 

The litigants will receive a copy of this ruling on Feb. 6, and each party has the right to appeal during 30 days from ruling date.

 

In November 2020, a Saudi court delivered a preliminary ruling in favor of Aseer. The court ordered termination of the agreement, signed in November 2008, by Aseer and the land seller, Argaam reported.

 

In December 2019, Aseer filed a lawsuit against the land seller, claiming refunds of the land price paid to him at SAR 202 million, Argaam earlier reported.

 

It also filed a claim against the deal broker requesting a refund of SAR 5.24 million in commission.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read