oa The legal characterization of the accrual of assets and liabilities from a public enterprise to a shareholding company in light of privatization laws in Kuwait: Comment on the current and recommended theory

The law No. 6 of 2008 regarding transferring Kuwait Airways to a public company and the law No. 37 of 2010 regarding the regulation of programs and operations of privatization, have defined the procedures for privatizing public enterprises, i.e., the accrual of assets and liabilities from a public enterprise to a shareholding company so that the latter replaces the public enterprise with regard to fulfilling its objectives, rights and commitments. The objective of this work is to study the legal characterization for the accrual of assets and liabilities and to evaluate the results that have emanated from such characterization in order to determine the proposed theory that avoids any negative consequences.