DISPUTE WATCH- Court postpones ruling on Raya-FRA dispute as founder Medhat Khalil seeks settlement: The Cairo Economic Court has postponed a hearing that was scheduled for Sunday to look into an appeal by Raya Holding Chairman Medhat Khalil against a fine issued by the FRA for violating company ownership limits, the local press reports. This came after Khalil last week paid EGP 10 mn to the authority to seek a settlement. The court will convene on 8 September to decide whether to accept Khalil’s motion. A ruling in January imposed a EGP 110 mn fine on Khalil after he was found to have failed to pay an original EGP 11 mn fine. Khalil then appealed the verdict.

Tags: