Mubasher: The cassation court in the UAE has issued a ruling in favor of a 91.053%-owned subsidiary of Senergy Holding, which is listed on Boursa Kuwait.
The UAE court has ordered Grandweld, which is the plaintiff company, to pay AED 16.243 million ($4.42 million) to Senergy’s subsidiary, according to a bourse statement issued on Monday.
This sum of money will be paid besides legal interest of 9% since the day the lawsuit was filed until full repayment.
The financial impact from this ruling will be disclosed on time, Senergy added.
