Kuwait - Mubasher: Salbookh Trading on Monday said that the Court of Appeals has adjourned the case to annul the company’s shareholder decision to 17 September 2017.
The court said it adjourned examining the case until it receives a report on the matter, according to a statement to Boursa Kuwait.
The court was set to examine cancelling decisions made by Salbookh’s shareholders on 19 May 2015 in favour of Rakan Regional Real Estate Co.
Last year, the trading company filed a lawsuit against Rakan and since then, the case has been postponed several times pending the experts’ report.
Salbookh recently reported a profit of KWD 178,570 ($585,380) for the first three months of 2017 against a loss of nearly KWD 44,780 ($146,800) in the same quarter of 2016.
