SCA 1484/2019 issued on 21/05/2019
This case involved the breach of an investment agreement. The defendant company claimed their financial statements and documents had been stolen which had impacted their activity. The claimant had proof of the investment and there was no evidence they had been involved in the theft. Another key point was the company's mismanagement of the investment.
Background
A claimant filed a case against a company before the court. He said that he had paid the company 50000 Riyals in order to invest in grocery products. He said that the company had failed to commit to their obligations. He requested the court to order the company to pay him the amount.
The company claimed that their documents and financial statements had been stolen from their headquarters which had affected their activities.
The court said that the case documents revealed that the claimant had provided the court with the documents that proved his claim including a bill signed by the company. The court said that the claimant had nothing to do with the company’s claim of a theft of their documents. The court said that the company had mismanaged the investment and failed to commit to their obligations.