Sukuk Holding Company announced that the lawsuit filed by its subsidiary, Gulf Development House Real Estate Company (in which it holds 88% interest), against Kuwait Financial Center Company, was adjourned to December 5, 2021, to make a payment to the Experts Department Secretary.  
According to a statement issued to Boursa Kuwait on Tuesday, the lawsuit is related to establishing ownership and liquidating an account. The company filed the legal proceedings against Kuwaiti Financial Centre in its capacity as the director of the National Real Estate Portfolio, representing Kuwait Investment Authority (KIA).
Sukuk noted that the expected financial impact on the company may not be determined at the present time until a final verdict is issued in the case.
"Kuwait Financial Center" announced last April that it had filed a lawsuit against Gulf Development House, which is 88% owned by "Sukuk" as the first respondent, and Sukuk Holding Company as the personal and joint guarantor.
The subject matter of the case is summed up in the lawsuit to dismiss Gulf Development House legal proceedings, and hand over the Millennium Hotel and Conference Center to "Kuwait Financial Center" as the lease agreement dated February 2, 2015 expired on June 30, 2020.
In a separate statement, Sukuk announced the resignation of its Chief Financial Officer Ravindra Shantagiri from his position as of February 28, 2022.