Riyadh - Mubasher: Saudi Cable Company announced that the Fifth Circuit of the Riyadh Court of Appeals has overturned a prior judgment by the Jeddah Commercial Court, which had terminated the company’s financial reorganization procedure.
Following the ruling issued on 26 August 2026, the company will officially return to its status under the financial reorganization process.
The company received the session minutes on 30 August, confirming the court's rejection of the termination request.
Management stated that it has already settled all claims listed in the creditors' register, with the exception of 35 commercial and labor creditors.
These remaining claims total approximately SAR 2.25 million and remain outstanding because the creditors have not responded to the company's communications.
Furthermore, Saudi Cable has scheduled debts with the Zakat, Tax and Customs Authority, the Saudi Industrial Development Fund, and the General Organization for Social Insurance.
The company continues to contest claims made by Tathmeer Investment Company and Rawafed Al Mustaqbal Company, alleging formal and substantive violations in contracts signed by previous management without General Assembly approval.
The company previously disclosed these disputes on 3 February, 23 April, and 29 April.
