KCC 2025/2013

This case involved whether it was possible for a company to put a restriction on the number of shares bought in a company in the Kuwait Financial Market which could be transferred to an account in the Dubai Financial Market.

Background

The documents of the case revealed that the court had ruled that the company (the appellant) should pay an amount of money to the litigant.

Decision

The court said that the court had established its ruling on the ground of an expert report of and a letter issued by Kuwait Financial Market. The court said that the documents of the case revealed that the litigant had bought 180000 shares in the company and then he requested it to transfer these shares to his account in the Dubai Financial Market. The court said that the company had dismissed his request on the grounds that the company put a maximum limit on the shares that could be transferred. The court said that this limit should be considered as an illegal restriction on the litigant's ability to transfer his shares in a way that caused him damage. The court said that the court had established its ruling on  solid evidence.