Kuwait Court of Cassation principle number 923

Shareholding members of the company whose aggregate shares are not less than 15% of the nominal value of the subscribed capital. Have the right to object to resolutions of the extraordinary general meeting within thirty days of their issuance. The condition therefor: that they are not among those who approved these resolutions. Article 136, Commercial Companies Law. - 177 - Obligation - In the event of an objection to resolutions of the extraordinary general meeting, the trial court may uphold, amend or annul those resolutions, or defer their implementation. Its implication. If no objection is made to these resolutions within the specified time limit, they are considered valid and binding upon the company and its shareholders. Example concerning resolutions of the extraordinary general meeting on shareholders’ entitlement to receive compensation due to the company for the harm it sustained as a result of the invasion.