Chemanol: Dammam Commercial Court halts proceedings in 2 lawsuits against company

Chemanol said the suspension will continue until receiving the final adjudication of another related lawsuit, to prevent any conflict of judgments

Methanol Chemicals Co. (Chemanol) said the Commercial Court in Dammam decided to suspend the proceedings in two lawsuits filed against the company, related to ADDAR Chemicals Co.’s (ACC) acquisition deal and the SAR 73 million claim filed by the former shareholders of Global Company for Chemical Industries (GCI).

In a statement to Tadawul, the company said the suspension will continue until receiving the final adjudication of another related lawsuit, in order to prevent any conflict of judgments that might arise from proceeding with the current case.

In August 2025, Chemanol announced that the former shareholders of GCI filed a commercial lawsuit against it before the Dammam court, seeking SAR 73 million in the unpaid portion of the agreed purchase price, Argaam reported.

In December 2026, the company said the former shareholders of ACC filed commercial lawsuits with the Dammam court against the company regarding the acquisition of ACC.

The company then said, in January 2026, the Commercial Court in Dammam accepted a request by the former shareholders of ACC —acquired during the previous board term — to raise the claim amount in the lawsuit to SAR 185.22 million from SAR 45.11 million.