Kuwait Court of Cassation principle number 604

The criterion for the State's purchase of the debts specified in the law is that they were outstanding on 1/8/1990 in favor of a local bank, Kuwait Finance House, or an investment company subject to the supervision of the Central Bank of Kuwait, and owed by a Kuwaiti customer or a natural person who is a national of a Gulf Cooperation Council state. Fulfillment of these requirements. Its effect. His debt is included by operation of law among the purchased debts once the bank and the person concerned take the procedures prescribed by law and the implementing procedures necessary to complete this purchase. This takes place according to a special mechanism to which assignment of rights applies. The State may not disavow the debt purchased by operation of law. Example.