United Cooperative Assurance appeals court ruling to open liquidation proceedings

UCA
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Riyadh – Mubasher: United Cooperative Assurance Company has formally filed an appeal against a judicial ruling that ordered the opening of liquidation proceedings for the company.

The appeal was submitted on 13 October 2026, in response to a judgment issued by the Ninth Commercial Circuit of the Riyadh Commercial Court.

The original court ruling, under case number 481001140 and deed number 452005635, was issued on 30 September 2026.

 That judgment mandated the commencement of liquidation, appointed Marei Abdulaziz Marei Al Omari as the procedure trustee, and ordered the lifting of seizures on all company assets for handover to the trustee.

The trustee was granted powers and duties in accordance with the Bankruptcy Law and its executive regulations.

United Cooperative Assurance is taking all necessary legal measures to protect the interests of its shareholders and stakeholders.

The company confirmed it will disclose any further material developments regarding the appeal process as they occur, noting that there is no immediate financial impact associated with this specific procedural update.

Source: Mubasher Source: {{details.article.source}}