Mazaya Real Estate Development Q.P.S.C. announces that the Court of Cassation issued a judgment on 23/04/2024 in the appeal filed by Sinohydro Corporation number 229/2024, partially appealing the judgment regarding compensation for the liquidation of the letter of guarantee.
The case has been referred to the Court of Appeal for consideration, which may result in additional liabilities to Mazaya if the court awards further compensation to SinoHydro.
In the appeal No. 376/2024 filed by Mazaya, the court ruled the appeal inadmissible.
This case pertains to a project developed by the company starting in 2012 and completed in 2018. The legal dispute with the project’s main contractor commenced in 2019 and has been ongoing.
