Kuwait Court of Cassation principle number 3801

Issuance of a judgment declaring bankruptcy. Its effect. The bankrupt is divested, from its date, of the administration of all his assets, whether related to his trade or not. The reason for this. All his assets secure payment of his debts, and his patrimony is indivisible. This extends to assets devolving upon him while in bankruptcy, and he may not conduct actions relating thereto except those confined to conservatory measures in which taking the initiative benefits his creditors and does not harm them. - Lodging an appeal in cassation by the appellant after the judgment declaring his bankruptcy, rather than by the bankruptcy administrator. Its effect. Its inadmissibility. The reason for this. - 639 - Commercial