KUWAIT CITY, Dec 11- 2024: In a final ruling, the Court of Appeals excluded doctors and professionals from the scope of application of the new bankruptcy law. In the first ruling, the Court of Appeals decided to cancel the judge’s decision to launch bankruptcy proceedings against a Kuwaiti citizen who works as a consultant doctor and owns a private medical center and to appoint a bankruptcy trustee.
The incident occurred when a group of creditors filed bankruptcy petitions against the citizen, based on the accumulation of debts against him, his inability to pay them, and his incapacity in his medical center. As a result, the Bankruptcy Department reviewed the applications. It referred them to the Bankruptcy Committee, which submitted a report and recommended appointing a trustee from the roster of auditors licensed by the Capital Markets Authority to carry out an inventory of the debtor’s financial assets and property. Accordingly, the bankruptcy judge issued a decision to declare the citizen bankrupt and take all precautionary measures against him.
The doctor’s defense counsel Lawyer Dr. Fawaz Al-Khateeb said the law grants special protection to professionals and excludes them from the scope of application of the bankruptcy law because they are not considered merchants, adding that the ruling of the Court of Appeal is considered final and may not be appealed by any means of appeal, and it shall be implemented as drafted without notice. The point confirmed by the Court of Appeals was that the scope of application of the bankruptcy law to doctors is by the correct law and achieves the desired stability for doctors and professionals. This final ruling may not be appealed before the Court of Cassation by the new bankruptcy law.
Source: Arab Times