Money and business
“Mabco”: The support of “Wasco” is 10 million riyals … and the company is ascending to “the higher administrative”
The Middle East Company for Paper Industry and Production (MBCO) reported the issuance of the ruling of the Administrative Appeals Court in its case against the General Competition Authority, in support of the primary ruling issued on 4/12/1444 AH, which is obligated to its subsidiary company "Waste recycling and recycling company" (Wasco) by paying a fine of 10 million riyals, noting that it will receive the ruling on 03/03/1447 AH corresponding to August 26. 2024.
The previous rulings < /h2> was the Supreme Administrative Court, last March, the argument of the appeal ruling issued for the benefit of the (Mabco) company affiliated with the appeal submitted before the Administrative Court of Appeal in Makkah Al -Mukarramah Region against the General Competition Authority. Primary and cancellation of a fine of 10 million riyals in the administrative decision that has previously been issued against its subsidiary company, the Limited waste and recycling company (Wasco) (a company wholly owned by the Middle East Company for Paper Industry and Production). Its affiliated with an amount of 10 million riyals to claim it participates in determining prices. "Risks related to lawsuits" The issuance of a decision by the General Competition Authority to fined the Wasco company in the amount of 10 million riyals for the alleged violation of the first paragraph of Article Five of the Competition System in agreement with competitors to determine the prices of the purchase of cartoon. Competition, and the decision of the Board of Directors of the Authority No. 523 dated 12/28/2021 AD to move the criminal lawsuit against Wasco and others. " The second defendant punishes the waste and recycling company (Wasco) with a fine of 10 million riyals …"
On 07/25/1444 AH corresponding to 02/16/2023 AD, Wasko submitted an administrative lawsuit requesting the cancellation of Resolution No. 222 dated 06/18/1444 AH corresponding to 01/11/2023 AD issued by the aforementioned committee, and a preliminary ruling was issued to reject the case. At the Administrative Court of Appeal in Makkah and referred the lawsuit for the tenth digital department, which ended in the abolition of the appealed judgment and the ruling again to cancel the administrative decision issued against the Wasco company (canceling the fine of 10 million riyals). - For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
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