JEDDAH: A court in Jeddah ordered a Saudi car distributor to pay SR95 million to a local businesswoman as her share of profits for investments in the car dealership 30 years ago, according to a court source yesterday.
The court had ruled in favor of the businesswoman and awarded her the money sometime ago when she filed a lawsuit against the car dealer demanding her share the profits from the dealership. But the businessman delayed payment on various pretexts, including liquidity problems.
When she complained to the court about the dealer’s noncompliance with the court order, a judge directed concerned authorities to investigate the financial standing of the man.
The investigations revealed that the man had huge real estate investments and a large bank balance.
The court then issued its latest ruling ordering the businessman to pay up the money in full immediately, the source said.
