{"id":85703,"date":"2024-05-01T00:00:00","date_gmt":"2024-05-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/court-rules-for-middle-east-paper-as-years-long-legal-battle-with-environment-ministry-continues\/"},"modified":"2024-05-01T00:00:00","modified_gmt":"2024-05-01T00:00:00","slug":"court-rules-for-middle-east-paper-as-years-long-legal-battle-with-environment-ministry-continues","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/01\/court-rules-for-middle-east-paper-as-years-long-legal-battle-with-environment-ministry-continues\/","title":{"rendered":"Court rules for Middle East Paper as years-long legal battle with Environment Ministry continues"},"content":{"rendered":"

Middle East Paper Co. was handed a favorable final verdict in a <\/strong>property rights <\/strong>case <\/strong>against the Environment, Water and Agriculture Ministry (Mewa)<\/strong>, it said in a regulatory filing to Tadawul<\/a>. Middle East Paper is 23%<\/a>owned by the Public Investment Fund (PIF)<\/a>, which became the paper manufacturer\u2019s largest shareholder in January.<\/p>\n

What we know: <\/strong>The court of appeal upheld an initial ruling by Jeddah Administrative Court annulling compensation of SAR 2.6 mn ordered by the ministry\u2019s evaluation committee. <\/p>\n

What\u2019s the issue? <\/strong>Mewa seized property belonging to Middle East Paper in 2007 and offered compensation of SAR 2.6 mn nine years later. The company claimed in a suit filed last September that officials had improperly valued the asset<\/a> and demanded compensation closer to SAR 74 mn, citing an independent valuation report.<\/p>\n","protected":false},"excerpt":{"rendered":"

The PIF is Middle East Paper\u2019s largest shareholder<\/p>\n","protected":false},"author":1,"featured_media":85704,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2817],"tags":[1919,10,2816,1917,1918],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dispute-watch","tag-dispute-watch","tag-enterpriseam-ksa","tag-environment","tag-middle-east-paper-mepco","tag-water-and-agriculture-ministry-mewa","wpautop","entry"],"acf":{"mongo_id":"15fb05e6-b953-4d37-b448-001f92fee4a4","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1738.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Court rules for Middle East Paper as years-long legal battle with Environment Ministry continues","related_issue":[85690],"teaser":"The PIF is Middle East Paper\u2019s largest shareholder","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.a84da862-fc23-4288-a2a2-f11d433604df.mp3"},"yoast_head":"\nCourt rules for Middle East Paper as years-long legal battle with Environment Ministry continues - 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