The claim filed by Saudi Arabia Refineries Co. (SARCO) against Arabian Sulfonates Co. (ASCO) will be referred to another commercial department, the company said in a statement Monday.
The court will consider the claim on May 8, along with another other lawsuit filed by Mohammed Qusai Asaad, a shareholder at ASCO, against SARCO.
SARCO filed the claim to liquidate its 34 percent-owned affiliate ASCO due to major financial losses that exceeded 50 percent of ASCO’s capital.
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