Mubasher: The court of appeal in Abu Dhabi has rejected a request regarding a ruling previously issued in favor of Al Madina for Finance and Investment, which is listed on both of Boursa Kuwait and Dubai Financial Market (DFM), and a subsidiary.
Thus, Al Madina will be paid AED 70 million in addition to 5% interest or AED 5.95 million, with an overall value of AED 75.95 million (KWD 6.29 million), according to a bourse filing issued on Wednesday.
The company clarified that it will disclose the financial impact from the court ruling once it is implemented.
