Kuwait: Bankruptcy law amended to streamline court structures
Summary
Published in the Official Gazette Kuwait Alyawm, the amendments revise Article 4 and 7 of Kuwait Law No. 71/2020, restructuring the formation of bankruptcy courts within the Court of First Instance. Under the new provisions, a Bankruptcy Court may consist of one or more circuits, each composed of three judges, with the head of each circuit holding a rank not lower than that of a court agent. Judges will be selected by the General Assembly of the court.
The reforms also establish a dedicated Bankruptcy Department within the Court of First Instance, headed by a judge of at least court agent rank and supported by a panel of Bankruptcy Judges. The system allows for the appointment of auditors to assist the courts, with remuneration set under executive regulations.