Arabi Holding Group has made an announcement in its disclosure to Boursa Kuwait regarding a recent development involving its subsidiary, Arabi Enertech Group. It has been confirmed that Arabi Enertech Group has successfully obtained a judgment from the First Court, which mandates Kuwait Oil Company to make a payment of KD 8,282,310.730 (eight million two hundred and eighty-two thousand, three hundred and ten Kuwaiti dinars and seven hundred and thirty fils) to Arabi Enertech Group.
The judgment also stipulates that Kuwait Oil Company is required to pay legal interest at an annual rate of 7% from the due date, which was May 10, 2022, until the full payment is made. Additionally, the defendant has been held responsible for covering the costs associated with the lawsuit, including attorney's fees, amounting to KD 500 (five hundred Kuwaiti dinars).