Kuwait Set-off of KWD 244.3k and KWD 103k Leaves KWD 141.9k Due to Ammar

Ammar Finance and Leasing Company announced a ruling issued by the Court of Cassation in a lawsuit claiming debt and compensation against International Group for Real Estate Projects and others, after which the Execution Department at the Ministry of Justice conducted a legal set-off between the due amounts on October 19, 2026, according to a Kuwait Stock Exchange statement reported by Mubasher.

The court formally accepted three submitted appeals, rejected appeals No. 2189 and 2318 of 2023 on the merits, and partially overturned appeal No. 2411 of 2023. The ruling was in favor of "Ammar" for an amount of 980,056.202 dinars including expenses, and ordered it to pay 103,004.387 dinars to "International Group for Real Estate Projects".

The set-off included the remaining amount in favor of "Ammar" in the lawsuit, estimated at around 244.30 thousand dinars including expenses, and the remaining amount in favor of "International Group" of around 103 thousand dinars. By deducting the two amounts from each other, Ammar's obligations were fully paid, leaving an amount of 141,923.485 dinars due to it from the company ruled against.

Ammar stated that the financial impact of the ruling cannot currently be determined except upon collection. According to the latest announced data, the company's profits in the first half of 2026 rose by about 12.13 percent to 294.58 thousand dinars, compared to 262.72 thousand dinars in the corresponding period last year.

What do these terms mean?

Legal Set-off: Deducting one debt from another between two parties, so that each settles what is owed to the other, leaving only the difference.

Court of Cassation: The highest court in Kuwait, reviewing the application of law in rulings and usually not re-examining the facts.

Financial Impact: The expected impact of the ruling on the company's figures and profitability, calculated upon actual collection.