Kuwait Court of Cassation principle number 825

A joint-stock company. It may bring a liability action against the chairman and members of the board of directors in all cases in which any direct damage to the company results from acts of fraud, abuse of authority, violation of the law or the company's articles, or from mismanagement. The basis therefor: it enjoys legal personality just as shareholders and third parties do. A vote by the general assembly discharging the board of directors does not preclude bringing that action. Articles 148, 149 of Law 15/1960 promulgating the Commercial Companies Law.