Kuwait Court of Cassation principle number 4047

Attachment of the debtor’s assets held by the Institution for Settlement of Transactions Relating to Company Shares Concluded on a Deferred Basis, and not by the Kuwait Clearing Company responsible for collecting fees. Its implication. The description of a creditor exercising a right of retention does not apply to it. Article 318 of the Civil Code. Its effect. The judgment ruling that the action claiming the fee may not be heard because five years have elapsed from the date it fell due. Involves no violation of the law. The challenge on the basis that the fee is a preferential claim. Ineffectual.