November 2, 2020 | real estate

Arabtec board follows up liquidation progress

Dubai construction company's board also takes up strategy for way forward


After two failed attempts, the board of Arabtec has finally convened to discuss the liquidation.

In a statement to the Dubai Financial Market (DFM) on Sunday, the company said the board had met to follow up on the progression of its liquidation plan, and discussed the strategy for the way forward, on Wednesday afternoon (October 28).

No other details were revealed in the statement.

The construction firm’s shareholders voted to liquidate the company on September 30, and the board was given a two-month deadline to discuss the move with the main stakeholders before an application is submitted to the competent courts.

zawya

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