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El-Dokki Court cancels 2 cases’ verdicts against Qalaa Holdings

El-Dokki Court cancels 2 cases’ verdicts against Qalaa Holdings

Arab Finance: El-Dokki Court accepted the objection by Qalaa Holdings (CCAP) regarding the cases pertaining to Ali bin Hassan Al Dayekh, canceling all verdicts against the group in two cases that cover three cheques worth $8.366 million, according to a disclosure on October 26th.

On September 12th, Qalaa Holdings announced it deposited about $18.5 million in El-Dokki Court’s treasury as the total value of cheques related to the company’s dispute with Ali bin Hassan Al Dayekh until the final adjudication in this case.

The group has filed several civil cases and initiated criminal reports over the past period regarding this dispute.

On June 18th, Qalaa Holdings announced it would take all the necessary legal procedures with Ali bin Hassan Al Dayekh regarding a commercial dispute.

Qalaa Holdings, formerly Citadel Capital, is an Egypt-based company engaged in private equity investment activities.

The company manages an investment portfolio that consists of 19 opportunity-specific funds and spans 14 industrial sectors such as energy, cement manufacturing, solid waste management, real estate, mining, agricultural, glass manufacturing, transportation, and metallurgy.

 

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