Jam Petrochemical restores Padjam's €45 million claim in the Jondishapour case

After years in which the rights and claims of Padjam Polymer Development Company had been disregarded in its legal case against Jondishapour Company, Padjam's contractor, and after two final judgments against Padjam worth 36 million euros in total, Jam Petrochemical's management changed its approach to the conduct of legal disputes and, drawing on the capacity of a specialist legal team, succeeded in vindicating Padjam's rights and securing a writ of execution for some 45 million euros, equivalent to more than 10,000 billion tomans.

According to Jam Petrochemical's public and international relations office, the case goes back to a legal dispute between Padjam Polymer Development Company and Jondishapour Company, Padjam's contractor — a dispute which over past years, despite the follow-up undertaken, had ended in two final judgments against Padjam and obligations worth 36 million euros in total.

Given the importance of the case and its considerable financial effects, Jam Petrochemical's management in the new period gave particular attention to the legal disputes of its subsidiaries and, with the aim of protecting shareholders' rights and interests, put the conduct of important, multi-million-euro cases on its agenda.

Accordingly, by reconsidering how the case was being pursued and drawing on specialist legal capacity, the matter was examined with greater rigour and precision, and the rights and claims of Padjam Polymer Development Company were pursued afresh.

The outcome was the vindication of Padjam's rights and a writ of execution for some 45 million euros, worth more than 10,000 billion tomans — a figure that exceeds even the total of the two previous final judgments against the company and shows the importance and effect of this legal action.

This success is the result of Jam Petrochemical's management approach in accepting responsibility towards its subsidiaries, engaging effectively in important legal cases, drawing on the capacity of specialists and pursuing shareholders' rights and interests diligently.

Jam Petrochemical regards the protection of its subsidiaries' assets and rights as an inseparable part of its responsibility towards shareholders, and will continue to pursue important legal disputes in a specialist and sustained manner, with the aim of preventing the company's rights from being disregarded and of recovering what is owed to it.