Kuwait Court of Cassation principle number 1840

The facilities provided for in Law 41 of 1993 and its amendments. Condition for the debtor to benefit from them. His compliance with the provisions imposed upon him by the law. His failure to authenticate the acknowledgment provided for therein and to express his wish to select a method of repayment within the prescribed periods. Its effect. The debt becomes due, and he is obliged to pay it, together with its accessories and any portion thereof that may have been waived, up to the date of payment. His failure to discharge the entire indebtedness. Cessation of payments warranting a declaration of his bankruptcy. Contravening this. Error in the application of the law. - The settlement conducted by the Kuwait Investment Authority in its capacity as administrator of the bankruptcy estate. Its proposals regarding composition. They must be submitted to the court. It may not carry out immediate cash repayment of the debt or reschedule it outside the scope of the provisions of the law, or conclude a composition to prevent bankruptcy.