Kuwait Court of Cassation principle number 625

Enactment of Law 41 of 1993. Its purpose. Addressing Kuwaitis' debts to local banks and investment companies subject to Central Bank supervision after the State purchased them. The facilities this Law granted to civilians. Their nature. - The debtor's authentication of an acknowledgment accepting the indebtedness balances as they stood on 1/8/1990. Its necessity for benefiting from these facilities. Inadmissibility of his subsequently disputing the existence or amount of this indebtedness. Reason therefor. Stability of the financial positions of all parties. His dispute over the principal debt and its amount. Its effect. The court may rule that he is deemed to have abandoned his action or appeal, and abandonment is not confined to relinquishing the litigation procedures while the substantive right remains unchanged, but rather constitutes a final settlement regarding the amount of the debt and not disputing it in the future. - 117 - Commercial