Al-Kharafi to pay $28m to Noor financial Investment on court rule.

Noor Financial Investment announced that the court of cassation has issued a rule in its favor , in respect to its law suit filed against “Hossam Fawzy Al-Kharafi” and “Fawzy Mohseen Al-Kharafi”

[tbpspa]

A bourse filing noted that , the Court of cassation has issued a judgment in respect to the appeal submitted by “Hossam Fawzy Al-Kharafi” and “Fawzy Mohseen Al-Kharafi” in respect to the verdict that obligates them to pay jointly KWD8.3 million ($28 million) ,in addition to annual interest rate of 7% starting from December 2 , 2008 and until settlement date to Noor.

In April 30, 2014 both “Hossam Fawzy Al-Kharafi” and “Fawzy Mohseen Al-Kharafi” has appealed against the prior verdict, added the statement.

 

Via : Mubashar

 

 

 

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