Omani court awards $1 mln payout to ex-CEO of OEIHC

Oman’s Primary Court has awarded a payout of OMR 417,874.501 ($1.09 million) to the former CEO of Oman & Emirates Investment Holding Company (OEIHC), after he filed a lawsuit claiming unfair dismissal.

In a disclosure to Abu Dhabi Securities Exchange, OEIHC said the former CEO had filed the lawsuit after his resignation and the company would appeal the court ruling.

Awad Mohammed Faraj Amkhalef was reported to have resigned with immediate effect on August 19 2019.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

(imogen.lillywhite@refinitiv.com)

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