SCA 1292/2019
Type
Case
Court
Saudi Arabian Court of Appeal
Jurisdiction
Saudi Arabia
Taxonomy
Remedies, Companies & Corporate Bodies, Breach, Discharge & Rescission of Contract
Decision date
27 May 2019
Catchwords
Investment agreement - Breach - Company - Settlement Agreement
This case involved the breach of an investment agreement. The case was dismissed as a settlement had already been reached by the parties.
Background
A claimant filed a case against a company before the court. He requested the court to order the company to pay him 52224000 Riyals. He said that he was an investor in the company but the company had failed to commit to their obligations.
The company claimed that the case filed by the claimant had been already settled.
Decision
The court said that the case documents revealed that the claimant had already reached a settlement agreement with the owner of the company by which he received all his entitlements.
The court dismissed the case.
The court of appeal upheld the ruling based on same grounds.