Settlement of disputes in Kuwaiti Capital Market
Dr. Amro Alattar
Assistant Professor, Private Law – Kuwait International Law School- Kilaw
Dr. Mahmoud Almograbi
Assistant Professor, Private Law – Kuwait International Law School- Kilaw
Abstract:
In 2007, the Kuwaiti legislator issued the law no, 7/2010 to regulate the Kuwaiti capital market, in which it provides for mechanism for settlement of dispute resolution relating to the capital market provisions. Unlike other similar law in the different Arab countries, Kuwaiti law adopted several mechanisms for settlement of such disputes. The law no 7/2010 provides for different mechanisms, litigation before the Kuwaiti domestic courts or submitting the disputes to arbitration. This paper discusses the procedures and provisions for both arbitration and litigation before the domestic courts. The first part of this paper compares between arbitration provisions adopted by the Kuwaiti law and the globally adopted arbitration principles provided under the Model Law issued by the United Nation Commission of International Trade Law (UNCITRAL). The second part discusses the litigation procedures before the domestic court and highlight the differences between such provisions and procedures under the civil and commercial procedures Kuwaiti law.