Court Declared To Pay Back About 2m Dinars In A Lawsuit Filed By The Company Against The Former Board Members

The Court of Appeals issued a verdict obliging former members of the board of directors of a company to pay back about two million dinars, which the board paid a law firm illegally, in a lawsuit filed by the company against the respondents (former board members). The company through its lawyer Ali Al-Attar affirmed that the board paid the aforementioned amount to the law firm without any justifiable reason, indicating it wasn’t of any benefit to the company or shareholders. He insisted the transaction only served the interests of the board members in their wrangle with rivals to control management of the company. The company considered payment of the sum to be a form of mismanagement, and the former board members should be held accountable for violating the rules, as well as company and shareholders rights through their actions.

 

SOURCE : ARABTIMES

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