Logo ofSaudi Cable Co.
Saudi Cable Co. announced the issuance of a ruling by the Fifth Appeals Chamber of the Commercial Court in Riyadh on March 5, 2025, rejecting the appeals submitted by some creditors included in the previous list before the court withdrew them, and from the previous Financial Restructuring Trustee Walid Sobhi, and the previous CEO Nael Fayez. 
The objectors submitted objections that included applications to overturn the judgment of the Bankruptcy Chamber of the Fourth Commercial Court in Jeddah, described above, said the company, in a statement to Tadawul.
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It added that their objections were submitted during June 2024, and the objections were registered on Aug. 13, 2025 and referred to the Fifth Appeals Chamber of the Commercial Court in Riyadh on Feb. 26, 2025. The judgment instrument was received on April 16, 2025.
The company noted that there are no costs associated with the event now, adding that the financial impact will be disclosed later if any.
According to data available with Argaam, Saudi Cable announced, in June 2024, that based on its objection to the financial restructuring proposal (FRP) for entailing formal regulatory violations and false financial information, the Fourth Commercial Circuit in Jeddah held a court hearing and cancelled the request by the procedure trustee Walid Sobhi, to submit the FRP to the court.
Saudi Cable earlier announced that the Commercial Court in Jeddah decided to reject the company’s request to postpone the date of its shareholders’ voting on the FRP and to adhere to the previously announced voting date of June 4 for shareholders and June 6 for creditors.
Saudi Cable announced in May that the Fourth Commercial Circuit in Jeddah decided to accept the deposit of its FRP, submitted by the procedure trustee, Walid Sobhi. The proposal was formerly set to be voted on by shareholders on June 4.
Its board of directors decided on June 2 to postpone shareholders’ voting on the FRP, which had been scheduled on June 4, until the Court of Appeal decides on the company’s objection to the proposal.
Logo ofSaudi Cable Co.
Saudi Cable Co. announced the issuance of a ruling by the Fifth Appeals Chamber of the Commercial Court in Riyadh on March 5, 2025, rejecting the appeals submitted by some creditors included in the previous list before the court withdrew them, and from the previous Financial Restructuring Trustee Walid Sobhi, and the previous CEO Nael Fayez.
The objectors submitted objections that included applications to overturn the judgment of the Bankruptcy Chamber of the Fourth Commercial Court in Jeddah, described above, said the company, in a statement to Tadawul.
For more news on listed companies
It added that their objections were submitted during June 2024, and the objections were registered on Aug. 13, 2025 and referred to the Fifth Appeals Chamber of the Commercial Court in Riyadh on Feb. 26, 2025. The judgment instrument was received on April 16, 2025.
The company noted that there are no costs associated with the event now, adding that the financial impact will be disclosed later if any.
According to data available with Argaam, Saudi Cable announced, in June 2024, that based on its objection to the financial restructuring proposal (FRP) for entailing formal regulatory violations and false financial information, the Fourth Commercial Circuit in Jeddah held a court hearing and cancelled the request by the procedure trustee Walid Sobhi, to submit the FRP to the court.
Saudi Cable earlier announced that the Commercial Court in Jeddah decided to reject the company’s request to postpone the date of its shareholders’ voting on the FRP and to adhere to the previously announced voting date of June 4 for shareholders and June 6 for creditors.
Saudi Cable announced in May that the Fourth Commercial Circuit in Jeddah decided to accept the deposit of its FRP, submitted by the procedure trustee, Walid Sobhi. The proposal was formerly set to be voted on by shareholders on June 4.
Its board of directors decided on June 2 to postpone shareholders’ voting on the FRP, which had been scheduled on June 4, until the Court of Appeal decides on the company’s objection to the proposal.
