Kuwait Court of Cassation principle number 616

The State’s purchase of certain debts in accordance with the controls prescribed in Law 41/1993, as amended. Effect: those debts transfer to the State with all their real and personal securities, and the provisions on assignment of rights apply insofar as they do not conflict with the provisions of this Law. The implication thereof. - Initiating enforcement procedures against mortgaged assets in the event of the customer’s breach of the rescheduling terms. An option available to the bank. The effect thereof. - 115 - Commercial