Kuwait Court of Cassation principle number 1392

A debtor referred to the Transactions Settlement Institution. Must submit to it, within 30 days from the date of - 244 - Commercial publication of the referral decision, a statement naming his creditors and debtors. The Institution submits a copy of this statement to the Arbitration Panel, together with a copy of its report on his financial position, and publishes a statement thereof in the Official Gazette and at least 2 daily newspapers. - The Institution's effecting an amicable settlement between the referred debtor and his creditors. Mandatory, provided that it notifies the Arbitration Panel thereof after completion for ratification. - The Institution's report on the financial position and the amicable settlement conducted in light thereof and ratified. Are official documents that may be challenged only by an allegation of forgery. - A settlement completed and ratified. Acquires binding authority against all. The judgment's disregard of that authority. A contradiction of what is established in the papers and an error in applying the law requiring its cassation. - See also: Shares and Indebtedness. Public Authorities