SBG 5863/2015

This case involved an unpaid amount for the sale of a share in a company. A key point was whether the value of the share should be re-evaluated due to a discrepancy in the named creditors.

Background

A claimant filed a case against a defendant before the court. He requested the court to order the defendant to pay him 5010000 Riyals. He said that he had sold his share of 50% in a company to the defendant and that the latter failed to pay the remaining amount.

The defendant admitted the claim made by the claimant but he said that the company was in debt and that the names of the creditors were different from the ones provided by the claimant. He requested the court to re-evaluate the mentioned share. The defendant failed to prove his claim.

Decision

The court ruled that the defendant should pay the claimant the mentioned amount.

The defendant appealed the ruling before the court of appeal.

The court dismissed the appeal and upheld the appealed ruling.