Kuwait Court of Cassation principle number 337

Issuance of a judgment declaring bankruptcy. Its effect: divesting the bankrupt, from its date, of the administration of all assets, whether related to the bankrupt’s trade or not. The reason therefor. This extends to assets devolving upon the bankrupt while in a state of bankruptcy, and the bankrupt may not conduct actions relating thereto; the creditors’ trustee is the legal representative of the bankruptcy estate and the person having standing to represent it in all actions. - Failure to join some of the parties in whose favour the judgment challenged in cassation was rendered on an indivisible subject matter. Its effect: nullity of the challenge. Example concerning failure to join the Kuwait Investment Authority in the cassation appeal in its capacity as trustee for the bankrupt’s creditors. - 65 - Civil Procedure