Qassim Agricultural Co.’s (QACO) case against Al Bandariyah Group has been adjourned to March 29, 2017, the company said in a statement to the Saudi bourse (Tadawul).
Last month, the company filed a new lawsuit against Al Bandariyah Group before the Riyadh-based Board of Grievances.
The lawsuit was filed against the Al Bandariyah’s commercial units – operating in food, dairy and agricultural production, as well as in the marketing of agricultural products – which represented the group as parties to the sale and sale termination contracts.
In 2009, QACO terminated its agreement with Al Bandariyah and requested the contract's value back after it claimed that it had "obtained financial information that affects its investments" in the group.
The firm went on to file a SAR 27.8 million lawsuit against Al Bandariyah in March 2015 in Riyadh’s administrative court.
In December the same year, a court ordered the group to pay SAR 25.33 million to QACO.
However, a claim for the remaining SAR 2.5 million was dismissed by an administrative court last August – a decision QACO decided not to appeal.
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