MENA Real Estate Company announced yesterday in a statement to Boursa Kuwait the issuance of a Court of Cassation ruling in favor of its subsidiary, Rasmal Holding Company, and against KFIC Brokerage Company, a subsidiary of Kuwait Finance & Investment Company (KFIC Invest) in a financial claim lawsuit.

The Cassation Court ruled to accept the appeal in the deliberation chamber. It is worth noting that the financial impact of this ruling cannot currently be determined.

It is noteworthy that the Court of Appeal had previously overturned the initial ruling and obligated Rasmal to pay the appellant, KFIC Brokerage, an amount of KWD 6,615,475, in addition to expenses and actual legal fees for that stage of litigation, while rejecting the remainder of the claims.