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Kuwait

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Evolution of Kuwait corporate governance – the rise of fairness opinions

Jeffrey Greene & Adel Abrahim
ASAR – Al Ruwayeh & Partners
Kuwait

Jeffrey Greene (Bio)
Adel Abrahim (Bio)

In recent years, the Kuwait legislature has seemingly been working in overdrive, enacting a spate of new laws, many having the potential to fundamentally alter the country's legal landscape. Such new pronouncements run the gamut of subject matter, including a comprehensive re-write of the private sector labour law in 2009, a build operate and transfer (BOT) law promulgated in 2008, as well as a law effected in 2010 concerning regulation of securities activities and the establishment of a capital markets authority (CML). As to matters of corporate governance, the CML has been heralded as a much needed step in the evolution of Kuwait's insular and opaque capital markets to becoming more open and transparent.

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Financial and corporate

CONTEXT AND TRENDS
With the first PPP (public-private partnerships) projects to utilise the new process under the PTB (partnership Technical Bureau), which was implemented in 2008, progressing well and the major restructurings in Kuwait's investment sector near resolution, there is positive momentum in the country and a steady flow of mandates for law firms. "A lot of the new work is still the government sponsored PPP projects, that is the biggest generator of deals," says one partner....

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Kuwait
Middle East

Legislation guide

Evolution of Kuwait corporate governance – the rise of fairness opinions

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