AlBaha Investment and Development Co. said the court of appeal has overturned on Tuesday a previous ruling against the company’s chairman and board members.
The case was returned to Jeddah Administrative Court for more consideration, the company said in a bourse statement.
No date, however, was set for the next hearing.
In March, the Jeddah Administrative Court ordered AlBaha’s former chairman and board directors to pay a total of SAR 68.7 million, plus attorney fees.
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