Thimar pays 1st installment to creditors under financial restructuring plan

13/12/2023 Argaam

Thimar pays 1st installment to creditors under financial restructuring plan

Logo of Thimar Development Holding Co.

Thimar Development Holding Co. paid the first installment, which stands at 50% of the value of the company’s payable debts as stipulated in its financial restructuring plan, for more than 95% of the creditors’ amounts. 

 

In a statement to Tadawul today, Dec. 13, the company said that the step came in compliance with its financial reorganization plan that was earlier approved by shareholders, creditors, the Secretary of the Financial Reorganization and the Riyadh Commercial Court. 

 

The remaining installments will be paid upon the completion of the relevant documentation, as stipulated by law. 

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