Saudi Fisheries Wins SAR 1.6M Judgment Against Ocean Fish
SFICO 6050.SA | 0.00 |
On May 14, 2026, Saudi Fisheries Company announced a final court ruling in its favor against Ocean Fish Company in a commercial lawsuit filed at the Primary Court of Muscat Governorate, Sultanate of Oman on December 28, 2025. The lawsuit arose from Ocean Fish Company's failure to fulfill contractual commitments for fish purchase and sale coordination and refusal to refund advance payments made by Saudi Fisheries Company. The court ordered Ocean Fish Company to pay SAR 1,599,900 plus SAR 30,000 in damages and SAR 3,000 in attorney's fees, with the 15-day appeal period expiring on May 25, 2026. If collected, these amounts will be recorded as other revenues in the company's financial statements.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95381&anCat=1&cs=6050&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.
