Thimar gets Riyadh Commercial Court nod on amending financial restructuring plan

08/03/2023 Argaam

Thimar gets Riyadh Commercial Court nod on amending financial restructuring plan

Logo of Thimar Development Holding Co.

Thimar Development Holding Co. obtained the approval of Riyadh Commercial Court on amending the company’s financial reorganization proposal, Thimar’s lead arranger announced today, March 8.

 

In a statement to Tadawul, the company affirmed to disclose any developments in this regard in due course.

 

In March 2021, Thimar announced that Riyadh Commercial Court approved the company’s proposal to conduct a financial reorganization. The approval was received later in August 2022, Argaam earlier reported.

 

In April 2021, a judicial ruling was issued by Riyadh Commercial Court to open procedures for the financial reorganization. A trustee was appointed to carry out the related procedures, as stipulated in the relevant regulations.

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