Arkan Secures Final Judgment In High-Value Industrial Company Ownership Dispute
Arkan Secures Final Judgment in High-Value Industrial Company Ownership Dispute
The Kuwait-based law firm offering legal services across the Middle East, with a strong focus on Kuwait and the wider Gulf Cooperation Council (GCC) region, Arkan Legal Consultants has secured a final court judgment in favour of its client, resulting in the dismissal of a claim seeking to establish the transfer of ownership and sale of shares in a major industrial company operating in Kuwait and across the GCC.
Dispute Background
The dispute concerned 45% of the company’s total shareholding, with an estimated value of approximately USD 200 million. The claimant sought recognition of a purported sale agreement and relied upon an extraordinary general assembly convened on the basis of the alleged transaction to assert ownership rights.
Court’s Findings and Ruling
The Court ruled that the alleged sale agreement was invalid, and consequently held that the extraordinary general assembly convened pursuant to the said agreement was also legally untenable. The judgment confirmed the continued ownership and full shareholder rights of Arkan’s client and declared the procedures undertaken to effect the transfer of shares to be legally invalid.
Significance of the Judgment
The decision represents a significant affirmation of shareholder protection and underscores the strict application of legal requirements in high-value corporate and share transfer transactions, particularly in the context of closely held industrial companies operating across jurisdictions.
The defence team was led by Counsel Ali Al-Thuwaimer and Senior Counsel Lotfi Hashem, whose strategic advocacy resulted in a decisive outcome in favour of the client.
Conclusion
This final judgment reinforces the importance of procedural and substantive compliance in corporate transactions and serves as a strong precedent safeguarding shareholder rights in complex, high-value ownership disputes across the GCC region.
Arkan Legal Consultants (also known as Arkan International Legal Consultancy) is a prominent Kuwait-based law firm recognized for its expertise in complex litigation, corporate, and regulatory matters. The firm advises a diverse client base ranging from multinational corporations to local businesses, offering deep expertise in Kuwaiti law and the broader GCC region.With a strong focus on practical and innovative legal solutions, Arkan serves key sectors including finance, technology, real estate, and energy. The firm is distinguished by its ability to combine in-depth local knowledge with a global outlook, enabling clients to navigate sophisticated legal and commercial challenges effectively.
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