By Jaime Llinares Taboada
Integrated Diagnostics Holdings PLC said Thursday that it has been included as respondent in an arbitration claim.
The consumer healthcare company said that the claim was filed in 2020 by Abdulkader Al Muhaidib and Sons Co. and relates to a memorandum of understanding that was entered into in 2007.
IDH said that it has already won a civil claim based on this matter, and that it believes it will succeed in defending the arbitration claim.
IDH said that Moamena Kamel and Hend El Sherbini--the company's chief executive--have provided binding undertakings to indemnify IDH against any liabilities that may arise out of or in connection to the arbitration claim.
The claimants, Abdulkader Al Muhaidib and Sons Company, have also filed two administrative claims. IDH said it believes those are likely to be dismissed.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
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Integrated Diagnostics Included as Respondent in Arbitration Claim - MarketWatch
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