Suspension of the “International” owners’ lawsuit against “Chemanol” until another case is decided
Company announced "Chemanol" A ruling was issued by the Commercial Court in Dammam to stop the proceeding of the lawsuit filed against it by the former owners of the International Chemical Industries Company, in which they are demanding the company for an amount of 73 million riyals, until another lawsuit related to it is decided so that the proceeding of the case does not cause a conflict of rulings.
The former owners of the International Chemical Industries Company had filed a lawsuit on August 7, 2025, against "Chemanol" Before the Commercial Court in Dammam, they are demanding the return of the amount of 73 million riyals, which represents the remaining amount of the purchase price of the International Chemical Industries Company agreed upon in the contract.
According to what was stated in the claim statement, according to a sales contract dated May 2024, 80% of the shares of the International Chemical Industries Company – owned by the plaintiffs – were sold to Chemanol, during the previous board session. The sellers demand that Chemanol Company pay the remainder of the deal price according to what was agreed upon in the share sale contract.
For its part, Chemanol Company appointed a specialized legal company to represent it in the lawsuit. Since Chemanol denies the claims of the former owners and denies any responsibility towards them, at this stage it is not possible to estimate liability until the end of this lawsuit, and any developments related to this case will be announced in due course.
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