The Casablanca Commercial Court issued on Thursday a new ruling allowing the Moroccan SAMIR oil refinery, located in Mohammedia, to continue its operations for an additional three months, marking the 35th decision in the ongoing judicial liquidation case that began on March 21, 2016, as disclosed by an inside source.
The court, invoking Article 652 of the Trade Code, grants permission every three months for companies undergoing judicial liquidation, provided it serves the public interest or the interest of creditors. This decision extends SAMIR’s activity beyond the previous deadline, effective immediately.
This ruling, according to the same source, is crucial for the company, addressing the urgent need for petroleum refining industries in Morocco. The court’s recurring decisions aim to balance the interests of the public and creditors.