Today, the Court of Cassation brought an end to one of the longest commercial disputes between large companies and local banks, following a years-long battle against the Investment Dar. The plaintiffs in the case, including Burgan Bank, Commercial Bank, Kuwait Industrial Bank, Kuwait International Bank, Al-Buraq Holding Company, National Investments Company (acting as liquidator for the National Money Market Fund), and Gulf Investment House Company, were represented in court by Attorney Ahmed Al-Mutawa, a member of Al-Jableh Law Firm. Those companies filed a lawsuit against the "Investment Dar". The reason behind the lawsuit was that the company stopped paying its debts and obligations worth hundreds of millions of dollars, misappropriated shareholders' investments, eroded the company’s capital, refrained from holding general assemblies, and in order to expose the company's misconduct towards supervisory and judicial authorities. Yesterday, the Court of Cassation, Commercial Circuit, division 6, presided over by Counselor Abdul Hadi Al-Jaffin, declared the Investment Dar Company bankrupt, putting an end to the long-standing dispute.
According to Al-Mutawa, the dispute has finally come to an end, and now the bankruptcy department will evaluate the Company's affairs in light of the judgment. The bankruptcy directors and trustees will liquidate the company, enabling creditors to recover their debts as stipulated in the court ruling and as required by the bankruptcy laws. Al-Mutawa expressed his satisfaction that the efforts made by the Jableh Law Firm team resulted in the declaration of the Investment Dar Company's bankruptcy. He added that it is customary for the Kuwaiti judiciary to uphold justice, retrieve rights, and return them to their rightful owners, regardless of how long it takes. It is worth noting that the "Investment House" crisis dates back to the global financial crisis in 2008, nearly 15 years ago.