Kuwait Court of Cassation principle number 2451

An application for a composition to avert bankruptcy submitted by the debtor or the Public Investment Authority. It must initially be submitted to the Court of First Instance competent to declare the bankruptcy of clients subject to 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 submitted 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 Code.