Kuwait Court of Cassation principle number 3899

Prohibition on a limited liability company undertaking insurance and credit operations and investing others’ money. The reason for this prohibition. - The papers of a limited liability company must contain particulars leaving no doubt about its type, identity, and capital. Omission of these particulars. Does not entail the company’s nullity but entails its manager’s liability to third parties out of the manager’s own assets, jointly and severally alongside the company’s liability. - Third-party recourse against the manager of a limited liability company upon the manager’s omission of the particulars concerning its papers. Its condition. Proof of the insufficiency of the company’s assets. Example.