Kuwait Court of Cassation principle number 1443

The criterion for the State's purchase of the debts specified in the Law is that they existed on 1/8/1990 in favor of a local bank, Kuwait Finance House, or an investment company subject to the supervision of the Central Bank of Kuwait, and were owed by a Kuwaiti customer or a natural person who is a citizen of a Gulf Cooperation Council state. Fulfillment of these requirements. Its effect: inclusion of his indebtedness by operation of law among the purchased debts once the bank and the parties concerned have taken the procedures prescribed by law and the implementing procedures necessary to complete this purchase. This takes place under a special legal mechanism through which the provisions governing assignment of rights apply. The State may not disavow the indebtedness purchased by operation of law. Example.