Kuwait Court of Cassation principle number 589

Benefiting from Law 41 of 1993 concerning the State’s purchase of certain debts. Its condition. The customer’s notarization of an acknowledgment of the amount of the indebtedness according to the outstanding balance on 1/8/1990, by a deadline of 31/3/1994. This deadline pertains to public policy and may not be amended or extended except by subsequent legislation. - Review by the bank managing the indebtedness of its balance with local banks, investment companies subject to the supervision of the Central Bank of Kuwait, and the Finance House, and its discovery that it does not correspond to the acknowledgment, whether by an increase or a decrease. Its effect. It may correct this balance without requiring the debtor to notarize it or requiring this to be done within a specified period. The reason therefor. The law contains no such condition.