Mubasher: The court of cassation in the UAE has issued a ruling that orders Grandweld to pay AED 16.24 million ($1.33 million) to a subsidiary of Senergy Holding, Synergy Energy Services.

This payment will be in addition to back interests of 9% since 8 March 2016 and until the completion of repayment, according to a bourse statement issued on Tuesday.

Meanwhile, the court has ordered Synergy Energy Services to pay AED 1.38 million to Grandweld, in addition to 9% back interests since 8 March 2016 and until the completion of the repayment.