Article 3 of Bankruptcy Law

An application for preventive settlement, restructuring or declaration of bankruptcy concerning indebtedness owed by any of the entities specified in this Article may not be submitted except after the scholars ten days from the date of notifying the entity indicated opposite each: (1) Companies in which the State or a public authority or institution owns more than half the capital: notification shall be directed to the competent Minister. (2) Insurance companies: notification shall be directed to the Unit. Kuwaiti banks or companies subject to the supervision of the Central Bank: notification shall be directed to the Central Bank. (4) Boursa Kuwait, the clearing agency, collective investment schemes possessing legal personality or companies subject to the supervision of the Authority: notification shall be directed to the Authority. Bankruptcy Court