SBG 2108/2016
Type
Case
Court
Saudi Arabia Board of Grievances
Jurisdiction
Saudi Arabia
Taxonomy
Share Schemes, Terms, Companies & Corporate Bodies
Decision date
6 Apr 2016
Catchwords
Share Purchase - Right - Company Contract
This case involved whether an individual had a right to buy shares sold to another person under a company contract.
Background
A claimant filed a case against two defendants before the court. She requested the court to order the first defendant to sell her the share that have been sold to the second defendant. She said that he has the right to buy the shares in accordance with Article 12 of the company's contract.
Decision
The court considered the documents of the case and concluded that the rules of the mentioned articles could not be applied on the dispute.
The court dismissed the case.
The claimant appealed the ruling before the court of appeal.
The court dismissed the appeal and upheld the appealed ruling.