Kuwait’s National Assembly has approved the draft bankruptcy law. It is aimed at reorganising the legal framework for bankruptcy provisions and the rules for debt restructuring. The first chapter dealt with definitions of all the terms contained in the law and the second chapter singles out the general provisions explaining the scope of its application It also contains provisions governing requests for preventive settlement, restructuring, or bankruptcy for debts owed to Government companies, insurance and companies regulated by the Capital Markets Authority. There are also provisions on requests for preventive settlement, restructuring and bankruptcy, as well as how the mechanisms for appointing the trustee, the controller and the inspector will be regulated and the duties and powers of each of them in the event the bankruptcy judge accepts the opening of the restructuring procedures or the declaration of bankruptcy in addition to organising frames and announcements related to the claims, requests and appeals through an electronic data room.