Kuwait Court of Cassation principle number 977

The application for a composition to avert bankruptcy submitted by the debtor or the Public Investment Authority. It must initially be presented to the Court of First Instance having jurisdiction to declare the bankruptcy of clients subject to the provisions of Law 41 of 1993 concerning the State's purchase of certain debts. The Court of Appeal has no jurisdiction to approve a composition to avert bankruptcy presented to it for the first time. - Composition to avert bankruptcy under Law 41, Law 1993. Its procedures. An exception to the provisions governing composition to avert bankruptcy prescribed in the Commercial Law.