Kuwait Court of Cassation principle number 1544

The circuit constituted at the Court of First Instance pursuant to Decree-Law No. 42 of 1988 concerning the liquidation of situations arising from forward share transactions. Its jurisdiction extends only to matters formerly within the jurisdiction of the Arbitration Panel - 270 - Commercial and is subject-matter jurisdiction pertaining to public policy. The consequence of this. The finality of judgments rendered therein attaches only to those rendered within the limits of that jurisdiction. Exceeding this scope. Its effect. Its judgment is appealable. - Disputes relating to transactions in company shares concluded on a forward basis. Their nature. - An action brought by a person under sequestration demanding that the sequestrator submit a statement of account for his activities. Is not considered among claims arising from transactions relating to company shares concluded on a forward basis. The reason for this. Institution of that action before the Public Indebtedness Circuit and the court of first instance’s undertaking to decide it; the judgment rendered by it. May be appealed because it exceeds the limits of its exceptional jurisdiction. The challenged judgment’s departure from this view and its ruling that an appeal is inadmissible. An error in applying the law requiring its cassation. 2- The limited liability company:- - In general:-