The details and causes behind the verdict issued by the Court of Cassation pertaining to the bankruptcy of the Investment Dar Company indicate that the debts owed by the company to the appellants, namely National Investments Company, Gulf Investment House, Burgan Bank, Commercial Bank of Kuwait, Kuwait International Bank, Kuwait Industrial Bank, and Al-Buraq Holding Company, stood at an estimated KWD 201.510 million.
According to a report by the Central Bank of Kuwait (CBK), the company's debts are estimated to be KWD 850 million, while the value of its assets stands at KWD 350 million. 
In a related development, sources have reported that three publicly listed companies are exploring options to annul the sale of a significant real estate transaction linked to the indebtedness of a distressed investment firm.
Although the rules and regulations on transparency and disclosure, particularly Article 4-2, mandate all publicly traded companies to promptly disclose critical information, the actual situation appears to be different. The balance sheets of three listed companies are reportedly in significant turmoil concerning a significant real estate asset, yet there has been no disclosure or apparent action taken to address this issue.
An investment firm, which has contributions from Kuwait Investment Authority (KIA) and has a number of subsidiaries listed on the stock exchange, owes more than KWD 15 million to another investment company.
This debt was secured by a valuable real estate asset in Fahd Al-Salem area. The current company sold the asset to two related listed companies.
The distressed company immediately requested a halt to the disposal of the property until the relevant case was resolved and was successful in doing so. Subsequently, a ruling was issued to return the property to the troubled company as one of the assets to be shared among all creditors.
However, the company that had sold the property must now join the list of creditors to obtain its rights through the liquidation and bankruptcy procedures that the debtor company will undergo. According to the bankruptcy ruling against the company, the real estate property is currently considered part of the real estate assets and the sale process is deemed null and void.
The following observations can be made in this regard:
1.    The cancellation of the real estate sale agreement will impact the financial situation of three listed companies: the company that had traded the property for bad debt, and the two companies that had purchased it.
2.    Despite a week having passed, there has been no information or disclosure regarding the resolution or management of this issue and its adverse effects on the financial status of the three companies. 
3.    The course of action to be taken with regard to this issue remains unclear, despite its significant impact on the companies involved, and it is crucial information that needs to be addressed.
4.    The role of auditors in these three companies, as well as whether regulatory authorities were notified of the developments related to this issue, are important questions to consider.
5.    It is worth questioning why no request was made to halt trading of the shares after the verdict was issued, to protect investors from any potential consequences.
6.    The issue of delayed disclosures and lack of protection for investors and traders demands a reconsideration of deterrent penalties for those who fail to act promptly, especially since this has become a recurring problem. 
The minutes of the meetings must be signed by the chairman and all attending members, following the approval of the relevant authorities.