Bankruptcy of Ghazal Insurance Closed Due to Insufficient Funds
Qiyas summary
The bankruptcy administration decided to close the bankruptcy proceedings of Ghazal Insurance due to insufficient financial assets.
Translated by Qiyas from النهار — Original source
The Bankruptcy Administration issued a decision to close the bankruptcy proceedings of Ghazal Insurance Company, due to insufficient funds and the absence of assets that would allow the bankruptcy process to continue, based on the trustee’s report on the company’s financial status. According to the publication in the official gazette, “Kuwait Today,” the decision followed a bankruptcy petition filed by the Insurance Regulation Unit against the company, under case number (23/2024), after the company failed to meet its financial obligations.
