Appeals Court Rejects Iran Leasing's (LZIN) Claim on a 43 Billion Rial Bank Saderat Guarantee

Iran Leasing (LZIN) said in a Group B Codal disclosure on Sunday, 8 November 2026 (17 Aban 1405) that Branch 55 of the Tehran Provincial Court of Appeal overturned the first-instance ruling, in the parts under appeal, in a case over a 43 billion rial guarantee Bank Saderat Iran issued for Simorgh Ertebat Afarin. The court ruled the underlying contract void and annulled the bank guarantee, rejecting the leasing company's claim.

The company says Simorgh Ertebat Afarin's book debt to it exceeds 143 billion rials; the guarantee equals 1.42% of last fiscal year's assets and 6.18% of its sales revenue. The ruling carries an event date of 4 Aban (26 October), and Iran Leasing says it may seek a retrial and will pursue the matter through the competent legal bodies. The letter does not estimate the final financial effect.