Saudi Gazette - MMG to exploit all legal methods to recoup debts:
"Saudi building contractor Mohammad Al Mojil Group (MMG) is pursuing around SR1.5 billion ($400 million) in outstanding fees it is owed by its customers and believes that it can recover a “significant percentage” through negotiation, arbitration and other legal claims in the coming years.
The Dammam-based firm said it “continues to take steps to recover money due from customers on completed projects”, which are significant assets that it cannot currently recognize on its balance sheet.
The company said that it is pursuing claims and legal actions for amounts worth $320 million (SR1.2 billion). It also said it is looking to recover a further $80m (SR300 million) in disputed final accounts."
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