Kuwait Court of Cassation principle number 3943

The defense to which the court must respond. Its nature. - 734 - Civil Procedure - The bank managing debts purchased by the State. It may supervise the management of pledged assets and the operations undertaken in respect of them for the purpose of maximizing their value, increasing their returns, or preserving them. Subscribing for new shares by availing of the priority established by ownership of the pledged shares. Does not constitute maximizing the value of the latter shares. The reason for this. It is a purchase of new shares for a price that must be paid, and those shares do not necessarily, merely by purchase, become part of the pledged assets. The appellant’s defense that its subscription for those shares falls within the duties of the managing bank in its capacity as the State’s representative. A manifestly invalid defense. The judgment is not at fault if it does not respond to it.