Real Estate Contributions Committee begins proceedings to file lawsuits against those involved in defaulted contributions

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After the Cabinet approved the amendments to the work of the Real Estate Contributions Committee (Tasfeeha), which includes the filing of lawsuits to preserve the rights of shareholders, the committee intends to start procedures to file lawsuits against those involved in troubled contributions.

Saad Al-Masoud, Director of the Communication and Media Unit in the Real Estate Contributions Committee, explained that the decision to file lawsuits will facilitate the procedures to enable investors in these contributions to obtain their rights as soon as possible, and pointed out that there are some cases that the committee will consider filing them when the need arises, without disclosing the number of cases that the committee will file.