Al Mawarid sues company for SAR 32M claim

Al Mawarid Manpower Co. logo, as the company sues another entity claiming SAR 32M compensation

Al Mawarid Manpower Co. announced the filing of a lawsuit, on Aug. 26, with the Commercial Court in Riyadh to claim due unpaid amounts worth SAR 31.97 million from Quick Services Co. for Electronic Marketing in accordance with the mutually signed agreements.

The company does not expect a material adverse financial impact on its future operating results, as provisions for the debt were made in previous years, according to a statement to Tadawul.

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However, if the company wins the case and collects the debt, there will be a positive financial impact on its results.

Any developments related to this case will be announced later, the statement added.

Meanwhile, Al Mawarid emphasized that it does not anticipate any substantial legal, regulatory, or operational risks to result from the lawsuit.

The company further indicated that it obtained legal advice on the merits of the claim based on the available documents. Additionally, the company notified all parties involved in the case of its intention to pursue legal action through several letters addressed to them. However, it has not received any response yet. The company expects no liability as a result of filing the lawsuit.