Logo ofAl Mawarid Manpower Co.
Al Mawarid Manpower Co.announced the filing of a lawsuit, on Aug. 26, before the Commercial Court in Riyadh to claim the amounts owed from Quick Services Co. for Electronic -Marketing amounting to SAR 31.96 million in accordance with the mutually signed agreements. 
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In a statement to Tadawul, the company said the event is not expected to have a material adverse financial impact on its future operating results, as provisions for the debt were made in previous years.
However, if the company succeeds in the case and collects the debt, there will be a positive financial impact on its results.
Any developments related to this case will be announced later, the statement added.
Meanwhile, Al Mawarid emphasized that it doesn’t anticipate any substantial legal, regulatory, or operational risks to result from the lawsuit, and any future consequences will be announced.
The company further indicated that it obtained legal advice on the merits of the claim based on the available documents. The company has also notified all parties in the case of its intention to pursue legal action through several letters addressed to them, to which the company has not yet received a response. The company does not expect to bear any liability as a result of filing the lawsuit.
Logo ofAl Mawarid Manpower Co.
Al Mawarid Manpower Co.announced the filing of a lawsuit, on Aug. 26, before the Commercial Court in Riyadh to claim the amounts owed from Quick Services Co. for Electronic -Marketing amounting to SAR 31.96 million in accordance with the mutually signed agreements.
For more news on listed companies
In a statement to Tadawul, the company said the event is not expected to have a material adverse financial impact on its future operating results, as provisions for the debt were made in previous years.
However, if the company succeeds in the case and collects the debt, there will be a positive financial impact on its results.
Any developments related to this case will be announced later, the statement added.
Meanwhile, Al Mawarid emphasized that it doesn’t anticipate any substantial legal, regulatory, or operational risks to result from the lawsuit, and any future consequences will be announced.
The company further indicated that it obtained legal advice on the merits of the claim based on the available documents. The company has also notified all parties in the case of its intention to pursue legal action through several letters addressed to them, to which the company has not yet received a response. The company does not expect to bear any liability as a result of filing the lawsuit.
