Bindawood: Appeal court rejects patent case filed against our subsidiary & claims compensation of SAR 124.12 million

Bindawood Holding Co. announced the rejection of the case brought by Arab Dalla pertaining to its claim of compensation amounting to SAR 124.12 million plus legal fees of SAR 300 thousand based on the issuance of a judicial decision by the Second Appellate Circuit at Jeddah Commercial Court on Tuesday

This decision comes in favour of its subsidiary (Danube Co. for Foodstuffs & Commodities). The decision content was the affirmation of the decision of the Second Commercial Circuit in Jeddah Commercial Court dated on 22nd November 2021 in case number 42821961 to reject the case brought by Arab Dalla.

BinDawood Holding Company is moving forward to take actions to protect the interests of the company and its shareholders, including but not limited to filing a countersuit against the plaintiff to seek compensation for the material and moral damages that BinDawood Holding Co. suffered as a result of the lawsuit. In addition, the company would like to refer to its strong legal position from the beginning of the lawsuits chain that the plaintiff filed, which was assured by the company in its previous disclosers, and in all the judiciary levels, the decision was always in favour of Danube Co. for Foodstuffs & Commodities.