Arabtec Holding begins the procedures for liquidating the company
Arabtec Holding Company revealed that its Board of Directors issued decisions and took the necessary measures to begin submitting the bankruptcy application to the competent court as soon as possible.
According to "Al Bayan" newspaper, the company continued in a statement to the Dubai Financial Market today, Sunday, that this came during the board meeting held last Monday, which discussed the bankruptcy decision that its partners had adopted during the previous general assembly meeting.
Last Monday, the company's general assembly decided to submit a request to the competent court as soon as possible to declare the company bankrupt and liquidate it.
It is worth noting that this decision was reached after a period of two months of discussions with the main stakeholders, based on the decision taken by the shareholders at the General Assembly meeting held on September 30, 2020.
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