Saudi Paper submits application to enforce final court ruling in manipulation case

Logo of Saudi Paper Manufacturing Co.

Saudi Paper Manufacturing Co. (SPM) started today, Jan. 6, the procedures to recover its rights against the buyer by submitting the execution application to the Enforcement Court in Riyadh. 

The company is awaiting court procedures for the judgment enforcement, according to a bourse filing. 

Any new developments will be disclosed in due course 

On Jan. 5, SPM said that Riyadh Court of Appeal upheld a previous ruling in favor of the company in the case of suspected manipulation related to the sale of the company's land. 

The case relates to the suspected manipulation of the company’s financial statements in 2017 concerning the sale of its land.

The ruling stipulated the buyer to pay SAR 17.3 million to SPM. Upon receipt of the judgment, the company will submit the application to the executive authorities to complete the execution of the ruling.