Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 276

State of Kuwait · Civil Matters — Volume 10 · Ministry of Justice — Court of Cassation — Technical Office

English translation of the principle

A general, unqualified provision. It may not be narrowed or restricted. The reason for this. - Article 104 of the Companies Law does not distinguish between instalments representing the nominal value of shares and those representing the value of the issue premium when they are sold at public auction or on the stock exchange. Its effect. Selling them at public auction to recover instalments of their value. There is no violation of the law, and compensation may not be claimed for it.
Arabic original
النص العام المطلق. لا يجوز تخصيصه أو تقييده. علة ذلك. - عدم تفرقة المادة ١٠٤ من قانون الشركات بين الأقساط التي تمثل القيمة الإسمية للأسهم والتي تمثل قيمة علاوة الإصدار في حالة بيعها بالمزاد العلني أو في البورصة. أثره. بيعها بالمزاد العلني لاستيفاء أقساط من قيمتها. لا مخالفة للقانون ولا يجوز المطالبة بالتعويض عنه.
Original Arabic judgment citations

(الطعن ٤١٦/٢٠٠٠ تجاري جلسة ١٠/٦/٢٠٠١ مج القسم الرابع - المجلد الخامس ص ٧٤٠)

Source: Court of Cassation legal principles collection — Civil Matters — Volume 10 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 58. PDF pages: 58.

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