Kuwait Court of Cassation principle number 3641

The State’s purchase of certain debts stipulated in Law 41/1993. Its effect. Its substitution for the creditor in respect of recovery of the assigned right against the debtor pursuant to the provisions governing assignment of rights and insofar as this does not conflict with the provisions of the aforementioned Law. The implication thereof. - Transfer of debt. An agreement to transfer the debt from the liability of the original debtor to that of a new debtor who replaces him. The consequences thereof. An example concerning the State’s purchase of local banks’ debts owed by Kuwaiti debtors and existing before 2/8/1990 pursuant to Law 41 of 1993.