Data News > Saudi Cable Co. Faces Hurdles in Approving Creditors’ Claims
Saudi Cable Co. Faces Hurdles in Approving Creditors’ Claims
By KlickAnalytics Data Insights | October 2, 2024 12:04PM ET
- The company submits an urgent request to clarify violations in the list of creditors’ claims
- Decision on financial restructuring proposal postponed until list of claims is finalized
In a recent update related to Saudi Cable Company's previous announcement about approving the list of creditors' claims, the company disclosed that an urgent request was submitted to the Fourth Circuit of the Commercial Court in Jeddah. This request aims to address the violations found by the company's management in the list of creditors' claims deposited by the bankruptcy trustee and previously approved by the Commercial Court. A court session has been scheduled to discuss these issues further.
Furthermore, the company attended a session to decide on an amended financial restructuring proposal on 19/08/2024. However, the decision on the proposal has been postponed pending the finalization of the list of claims. Shareholders have been assured that any developments regarding this matter will be promptly announced in due course.
As of now, there are no costs associated with these events, and any potential financial impact will be disclosed at a later date if necessary. Stay tuned for more updates on this evolving situation!
- Decision on financial restructuring proposal postponed until list of claims is finalized
In a recent update related to Saudi Cable Company's previous announcement about approving the list of creditors' claims, the company disclosed that an urgent request was submitted to the Fourth Circuit of the Commercial Court in Jeddah. This request aims to address the violations found by the company's management in the list of creditors' claims deposited by the bankruptcy trustee and previously approved by the Commercial Court. A court session has been scheduled to discuss these issues further.
Furthermore, the company attended a session to decide on an amended financial restructuring proposal on 19/08/2024. However, the decision on the proposal has been postponed pending the finalization of the list of claims. Shareholders have been assured that any developments regarding this matter will be promptly announced in due course.
As of now, there are no costs associated with these events, and any potential financial impact will be disclosed at a later date if necessary. Stay tuned for more updates on this evolving situation!
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