Dubai Financial Market-listed Arabtec Holding, which confirmed going into liquidation, due to its untenable financial situation, has revealed that its general assembly has adopted a Special Resolution for the discontinuation of the company, and to authorise its board to apply to the competent court for an insolvent liquidation.
In a stock market filing dated 14 October 2020, the company said: The general assembly requested that the board shall not make such an application to the courts until discussing the impact of this outcome with the stakeholders within a period not to exceed 2 months from the date of this meeting.
The purpose of the period not to exceed two months referenced in the resolution of the general assembly is to enable t…
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