Cairo-Mubasher: Arab Polvara Spinning and Weaving said on Sunday that the board decided not to negotiate with Arab Trade & Investment & Cotton Trading (El Dabbah & Co.) which filed a bankruptcy lawsuit against the company.
Alexandria Economic Court earlier adjourned the lawsuit until 9 December 2015.
El Dabbah & Co. took a legal action against Polvara as it failed to pay checks related to cotton supply.
The board gave the go-ahead for addressing the Egyptian Financial Supervisory Authority (EFSA) on rescheduling the fine imposed on the company.
