Saudi Arabia’s Securities Appeal Committee rejected an appeal from a former board member on October 11, 2026, keeping a final 69.2 million riyal compensation judgment firmly in place against six former directors of Derb Al-Saudiya Investment Company over a contested historical asset exchange.
The legal battle surrounding Derb Al-Saudiya Investment Company—formerly known as Al-Baha Investment and Development Company—has reached another procedural milestone. The Securities Appeal Committee notified the firm on October 11, 2026, that it had dismissed a petition to reconsider a binding compensation ruling, leaving the financial liability untouched.
That decision preserves a multi-million-riyal liability imposed on a group of former leaders who managed the company during its 2010-to-2013 operational cycle.
Asset Exchange Dispute Involving Six Former Directors
The underlying litigation traces its origins to corporate decisions made more than a decade ago. The dispute centers on an asset exchange deal executed during the tenure of six board members who served from February 10, 2010, to February 9, 2013.
The Committee for the Resolution of Securities Disputes initially sided with the firm, ordering the six former directors to pay compensation jointly and severally. The Securities Appeal Committee subsequently endorsed that determination, granting the judgment full finality before the latest petition for review was filed and rejected.
Breakdown of the Multi-Million Riyal Financial Award
The financial obligation is split between direct damages and legal costs. The formal obligation requires the defendants to pay a precise sum of 69,199,441 riyals.
Enforcement Proceedings Before Riyadh Courts
With the appeal avenue closed, the legal focus shifts entirely to enforcement. Derb Al-Saudiya confirmed that its legal advisors are actively pursuing collection measures through the enforcement court in Riyadh.
Earlier court directives gave the designated respondents a five-day window from the date of service to satisfy the executive instrument. While the refusal of the reconsideration petition leaves the total figure unchanged, the company noted that the procedural dismissal does not equate to an immediate cash recovery. Leadership pledged to release further disclosures through Tadawul as enforcement milestones occur and financial impacts materialize.
