Jeddah-Amlak
Legal accountant Saleh Al-Naim confirmed that the secretariat of the Al-Ajhouri bankruptcy, under the auspices of Dr. Abdullah bin Omar Nassif, presented the reports of the Jeddah and Medina auctions to the First Commercial Chamber of the Administrative Court in Jeddah, headed by Judge Mohammed bin Musa Al-Faifi, and the membership of Judge Rami Al-Hazmi and Judge Musaed bin Abdulrahman Sahli, the Chamber discussed the presentation of the reports and reviewed all procedures, which were documented by video and attended by Abdullah Al-Ahmari, Chairman of the Valuation Committee at the Chamber of Commerce and Industry in Jeddah, and the representative of the Expert Body at the General Court of Jeddah, Mohammed Al-Malki, the Chamber approved auction procedures and issued two court decisions Al-Naim added that the necessary measures are being taken to start the procedures for collecting the rest of the prices, which amounted to 180 million riyals and emptying to the buyers at the Jeddah Notary Office, noting that the Jeddah Notary Office headed by Sheikh Anas Al-Hammad and Sheikh Abdullah Muharram are paying keen attention to this case. Al-Naim explained that he expects his team to prepare a report on the work of collecting the prices and depositing them in the bank accounts of the bankruptcy and will be submitted to the First Commercial Department during the month of Dhu al-Hijjah. After that, he expects that the department will issue a decision to disburse the second installment of the net dues of the bankruptcy investors and that it will be about fifty percent, bringing the amount disbursed to investors to eighty percent, and Al-Naim expects that the year 1435 AH will witness the end of the oldest money placement case in the Kingdom.

Al-Naim explained.