The decision was made by the Custodian of the Two Holy Mosques. <According to the decision: ”The committee takes all legal and legal measures, including those that contribute to preserving the rights of shareholders and restoring them in the most appropriate ways, whether by selling the contribution directly according to its current value or selling it through a public auction, or waiting for the approval of the contribution plan, or continuing to carry out development work according to the case of each contribution and may file lawsuits before judicial and quasi-judicial authorities at all levels, according to what it deems to achieve the interest of shareholders, and anyone in whose favor a decision was issued by the committee may object to it before the competent court in the Board of Grievances within a period not exceeding (60) days from the date of notification of the decision or its publication in two newspapers with the right to appeal.”
For his part, Mr. Hamza Al-Askar, Secretary General of the Committee for Struggling Real Estate Contributions, thanked the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and his Crown Prince, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz - may God protect them - for their keenness to support the work of the Committee on preserving the rights of shareholders and returning them in the most appropriate ways.
The Secretary General of the Committee for Struggling Real Estate Contributions, Mr. Hamza Al-Askar, stressed the importance of the Committee's work. Al-Askar stressed in an interview with Amlak newspaper that the approval of the Council of Ministers in its session held today (Tuesday) on the possibility of the Committee for Struggling Real Estate Contributions to file cases before the judicial and quasi-judicial authorities at all levels will facilitate the procedures to enable investors in these contributions to obtain their rights as soon as possible, God willing.
Al-Askar added that the committee will be able to file cases before the judicial and quasi-judicial authorities at all levels of the judiciary. Al-Askar added that the committee is keen to enable shareholders in troubled real estate contributions to recover their rights, based on its right to take the necessary measures and carry out its duties in light of the decision of the Council of Ministers in this regard.
Al-Askar added that the committee is keen to enable shareholders in troubled real estate contributions to recover their rights.
