Kuwait Court of Cassation principle number 974

An application for a composition to avert bankruptcy under the provisions of Law 41 of 1993. Its subjection to the procedures and provisions prescribed by the legislature as an exception to the procedures and provisions contained in the Commercial Law. Hearing the statements of creditors who wish to be heard and the requirement for the approval of a quarter of those holding half the debts as a condition for the court's ratification of the composition. Among the excepted procedures. Its effect. These creditors must be joined as parties for a ruling to continue the declaration of bankruptcy or approve the composition to avert bankruptcy. Articles 14, 17 of the said law.