Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 1887

State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office

English translation of the principle

Issuance of a judgment declaring bankruptcy. Its effect. Divesting the bankrupt, from its date, of the administration of all his assets, whether or not related to his trade. Rationale therefor. All his assets secure payment of his debts, and his patrimony is indivisible. This extends to assets devolving upon him while he is bankrupt, and he may not conduct actions relating to them except those confined to conservatory measures in which taking the initiative benefits his creditors and does not harm them.
Arabic original
صدور حكم شهر الإفلاس. أثره. غل يد المفلس من تاريخه عن إدارة جميع أمواله سواء كانت متعلقة بتجارته أم لا. علة ذلك. أن أمواله كلها ضامنة للوفاء بما عليه من ديون وذمته المالية لا تتجزأ. شمول ذلك للأموال التي تؤول إليه وهو في حالة الإفلاس ولا يجوز له مباشرة الدعاوى المتعلقة بها إلا ما يكون قاصراً على نطاق الإجراءات التحفظية التي تفيد المبادرة فيها دائنيه ولا تضرهم.
Original Arabic judgment citations

(الطعن ٣٨٧/٢٠٠٠ تجاري جلسة ٢/٦/٢٠٠١ مج القسم الرابع - المجلد الأول ص ٥٢١)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 330. PDF pages: 330.

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