AYYAN Investment Co. said the court of appeal upheld an earlier ruling on dismissing a lawsuit against the company to pay SAR 24.5 million fees for studying its aluminum foil project.
On August 26, 2013, Riyadh General Court issued a preliminary judgment on dismissing the lawsuit against the company, Ayyan said in a statement to Tadawul on Thursday.
The case was referred to the court of appeal on Jan. 14, 2014.
AYYAN will not incur further charges and does not expect any financial impact from the lawsuit, the statement added.
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