Asset Recovery Watch

ARW-108
Kuwaiti Investment Organization
Kuwait
Kuwaiti Investment Organization Management (inclusive 1989-1992)
Switzerland
Undertaking Recovery Effort, Location of Recovery Effort, Asset Location / Alleged Asset Location
Unknown
Art.17, Art.23
Yes
Criminal Prosecution and Forfeiture; Private Civil Action
Unknown
Unspecified
"The following items were critical to the success of asset recovery in the Kuwaiti case. -The establishment of a dedicated and competent National Team was critical to the success of the initiative. - Political will was secured to ensure the success of asset recovery. - The elimination of pressures helped to achieve breakthrough successes for stolen assets recovery efforts. - Processes were initiated against individuals, rather than institutions, resulting in less resistance and fewer legal battles. - Private law actions, for several reasons, were a well-established route for asset recovery." (Source: Dr. Mohammad A.A. Al Moqatei, "Stolen Asset Recovery: A Case from Kuwait," in Stolen Asset Recovery: A Good Practices Guide for Non-Conviction Based Asset Forfeiture (Stolen Asset Recovery Initiative, 2009).
Unknown
Unknown [UK judgment noted criminal and civil proceedings in Switzerland]
Unknown
Unknown
Please see United Kingdom entry for worldwide total assets returned amount
Unknown
Unspecified

Grupo Torras SA & Ors v Sheikh Fahad & Ors [1999] EWHC 300 (Comm) (24 June 1999) makes mention of criminal case in Switzerland. The court noted that the State of Kuwait requested judicial cooperation in June 1997 to the Swiss Police. The court notes, on several instances, that Swiss Investigating Magistrate Juge Tappolet obtained numerous bank account documents in connection with his criminal investigation of the case. (Source: Grupo Torras SA & Ors v Sheikh Fahad & Ors [1999] EWHC 300 (Comm) (24 June 1999), at 108 and throughout).

Unspecified

National Team established by the Kuwaiti Investment Organization
National Team established by the Kuwaiti Investment Organization; Kuwaiti Public Prosecutor
National Team established by the Kuwaiti Investment Organization
National Team established by the Kuwaiti Investment Organization