Thimar says court grants time limit of 150 days to prepare financial restructuring plan

29/04/2021 Argaam

 

National Agricultural Marketing Co. (Thimar) said it appointed Hani bin Saleh Al-Aqili as a trustee to carry out the financial restructuring measures, according to a bourse filing. 

 

Thimar has 150 days to prepare the financial restructuring proposal, the statement added.

 

Any major developments will be announced in due course.

 

The company announced on April 19, 2021, that the Commercial Court in Riyadh issued a decision to open the procedures for financial restructuring for the company and rejected a request of one of the creditors for liquidation, Argaam reported.

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