SCA 1245/2019
This involved a company which had stopped paying profits to an investor. Documents were provided to prove the claim and the other company had confirmed they owed the money.
Background
A company filed a case against another company before the court. The company said that they had paid the other company an amount of money in order to invest it. The company said that the other company had stopped paying profits. The company requested the court to order the other company to pay 19000000 Riyals.
The other company confirmed the existence of the mentioned transaction.
Decision
The court said that the case documents revealed that the company provided the court with the documents that proved their claims. The court said that the other company had already confirmed that they owed the mentioned amount.
The court ruled that the other company should pay the company the mentioned amount.
The Court of Appeal – Jeddah upheld the ruling based on same grounds.