Funds Recovery will be through court, not company
KUWAIT CITY, Dec 18: The Rapporteur of the Coordination Committee that was formed to claim the rights of owners in the Turkish residential project Al-Babaz Tower, Rakan Al-Subaie said the committee has exerted tremendous efforts to restore the rights of about 400 Kuwaitis and residents who were affected by a ruling issued by the Turkish judiciary declaring the company bankrupt, reports Al-Anba daily.
During a meeting which was held Monday evening in the presence of Turkish lawyer Dr Mohammed Akef Jan said the committee coordinates with the Turkish authorities to prove the rights and shares of the citizens in the project through legal means, and called on those affected by the court ruling to be patient and cooperate with the committee and the lawyer who is handling the issue currently under way in Turkish courts.
For his part, lawyer Akef stressed on the interest of Turkish authorities to ensure the rights of those affected and its keenness to complete the project even if the loss exceeds 10 million lira. He added, the bankruptcy of the company has moved the project file to the custody of the judiciary and thus any legal action to ensure the rights of Kuwaitis and their recovery of their funds will be through the court, not the company.
He pointed out, there are about 54 Kuwaitis who have assigned him to defend them. He explained that the procedures of the case are represented by the court receiving the requests of the affected persons within three months, which is the period that actually began a month ago